Expectations of strong profits, orders and sales over the next six months could fuel recruitment and stimulate growth in businesses across the UK.
That’s after a new report from Lloyds TSB Commercial Banking, entitled ‘Business in Britain’ and cited by freshbusinessthinking.com, suggested that business confidence is at a five year high.
Nearly 1,800 firms were canvassed in the study and many were found to hold a renewed confidence as firms enter the last six months of 2013.
When it comes to hard figures, the confidence index rose by 11 points to 30 per cent – a contrast to the 19 per cent registered in the previous index at the start of 2012. Prospects around the economy and total sales are also positive, which could lead to growth in the future.
Another way growth can be achieved is through recruitment. For instance, companies can advertise jobs in London and further afield in order to fall in line with UK-wide growth and expansion.
Overall, 45 per cent expect their orders to increase during the second half of the year while 38 per cent expect an increase in profits over the next six months.
David Oldfield, managing director of SME and mid markets banking at Lloyds Banking Group, commented on the figures on lloydsbankinggroup.com: “Businesses are clearly beginning to regain confidence about future trading prospects, after years of hesitation of concern, and we hope this renewed optimism will lead to growth for the UK economy.”