As the UK economy finally emerges from recession, there are grounds for the country’s small to medium-sized enterprises (SMEs) to feel optimistic, it has been claimed.
A new survey by the Confederation of British Industry has revealed 27 per cent of respondents had seen a rise in export orders in the three months to January.
This took the overall balance to plus two – the highest figure since 2008 – as confidence about export prospects has grown.
Commenting on the news, Phil McCabe, a spokesperson for the Forum of Private Business, said this positive thinking is something which should be welcomed.
However, he added: “There has to be a note of caution, though. We are technically out of recession, but the worst certainly isn’t over and the message to businesses is that confidence is great but make sure that you keep the belts tightened.”
Mr McCabe noted this is because the next year will still be difficult, meaning it was advisable that SMEs which could control their costs did so as the best means to enjoy recovery.
He concluded there was still a danger of the economy falling into a double dip recession, which may mean HR managers at SMEs wish to take steps to prepare.