AM Online

Small business confidence on the increase

A majority of small businesses are now looking to invest in their business spurred on by the 1% increase in GDP.

A survey of 2,000 small UK businesses by Freelancer.co.uk, the outsourcing marketplace, said 58% of small businesses are now confident enough about the future to invest and grow.

However, the survey also shows 61% of the businesses were refused a loan from a bank and will be using their own money to invest. The results show that 43% of businesses will use savings, while 19% will borrow money from friends and family.

The survey found, however, that while businesses want to invest, they are wary about taking on new staff with 34% saying they would rather spend on marketing.

Online accounted for 43% of intended investment area and the survey also found that 48% would be investing in hiring freelancers as a flexible resource.

Matt Barrie, Freelancer.co.uk’s CEO, said: "The Olympics may have given the UK economy a shot in the arm, but this survey shows that small businesses believe that growth is now sustainable."



Click here for finance and insurance best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.