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UK Contractors: Small business confidence up as economy grows

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Small and medium-sized enterprises, such as Limited companies, will be pleased to hear that more businesses are expecting growth this year.

According to findings from Avanta Serviced Office Group, the UK’s smaller sized businesses seem to be benefitting from the uplift in the economy, with a survey of its SME client base showing that the proportion expecting ‘some’ or ‘significant growth’ this year is up by 5% on the same time last year (71% in 2013 compared to 76% in 2014.)

The serviced office provider also found that more SMEs are choosing to stay in the company’s offices for an average of 22% longer compared to three years ago, with Avanta making the suggestion that businesses are in a position to make a longer term commitment on their office space and are therefore ‘putting down roots’ for longer.

Alan Pepper, CEO of Avanta Serviced Office Group, added, “It’s been a tough few years for many SMEs across the UK, but these figures show we are finally turning a corner. While it always takes a while for macro-economic trends to filter down to the man on the street, our data shows that this shift is beginning to take place.”

Avanta client, Signature Recruitment, is one of those who has felt the benefits of the economic recovery and has felt confident putting down roots in an office space for a number of years.

Evelin Zauchner, Director of Signature Recruitment said, “Starting up in a recession will always present challenges, but at Signature Recruitment we have been able to overcome the obstacles to thrive over the last few years.

“I was encouraged to hear that the economy is looking strong again and this means that hopefully the next few years will be even more positive. I know that lots of businesses have been struggling so it’s great to hear that confidence is on the rise again.”

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