Overcast

Overcast

max temp: 16°C

min temp: 10°C

ESTD 1874 Search

WIN A NEW HYUNDAI i10 - See the EADT on June 8 for full details

East Anglia: Region’s SMEs optimistic about prospects for recovery, Bibby Financial Services survey shows

11:35 23 May 2014

Sharon Wiltshire, managing director for Bibby Financial Services in East Anglia.

Sharon Wiltshire, managing director for Bibby Financial Services in East Anglia.

Archant

More that two thirds of small and medium-sized enterprises (SMEs) in East Anglia are expecting to grow over the next three months, with nearly half reporting increased sales during the first quarter of the year, according to a new survey.

shares

The latest quarterly Business Factors Index from Bibby Financial Services found that 68% of SMEs in the region are on course for sales growth during the second quarter, building on the 49% which reported an increase during the first.

Around one in six SMEs in the region said sales had increased “significantly” in the three months to the end of March, echoing the national findings of the survey which point to an increasingly positive view of a wider economic recovery.

The growing sense of optimism is also reflected in an increase in recruitment with nearly a fifth (18%) of SMEs in the region already having taken on new staff this year and a further 16% saying they plan to take on more employees in the near future.

The report also shows that nearly a quarter (23%) of SMEs in East Anglia have invested in their current work force while nearly half (49%) say they have invested in either new or current premises, equipment or technical services.

The outlook for the second quarter is similar, with 69% of SMEs expecting sales to rise including 20% which expect to see significant growth.

Nearly two thirds (66%) plan to invest in their business, more than a quarter (27%) plan to recruit or invest in their current staff and one fifth (20%) plan to invest in new technology or equipment.

Sharon Wiltshire, managing director for Bibby Financial Services in East Anglia, said: “The findings of our research for Q1 2014 reflect national SME performance according to our headline index data, which recorded the highest level of first quarter output among our 4,000 invoice finance clients since 2008.

“However, if SMEs in East Anglia are going to realise their growth ambitions, it is important that they have access to funding that supports the development of their business.

“One in 10 SMEs say they struggle with poor cash flow, and often, traditional forms of finance are unable to offer a solution. A flexible facility such as invoice finance works in tandem with the growth of a business, and is ideally suited to providing the kind of specialist support needed by many firms in the East Anglia area at this time.”

shares

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Andrew Wheeler of Brewin Dolphin.

Andrew Wheeler, head of the Ipswich office of investment manager Brewin Dolphin, has hailed the firm’s “good progress”.

Thomson Airways' new Boeing 787 Dreamliner touching down at Stansted.

Stansted Airport today marked the arrival of the latest in airline technology with the launch of a new long-haul service from the Essex terminal.

'Love every drop' branding on an Anglian Water van.

Regional water and sewerage services group Anglian Water has announced an increase in underlying annual profits, following a year which marked the end of a five-year settlement with regulator Ofwat.

An LA Fitness gym.

Low-cost gym operator Pure Gym is to acquire mid-market rival LA Fitness, picking up 43 clubs for an undisclosed sum thought to be in the range of £60million to £80m.

Frank Brumby, eastern region chairman of R3.

East of England business victims of late payment saw more than one in six (16%) of their invoices paid late in the last six months, according to research by insolvency trade body R3.

B&Q parent Kingfisher said it was ploughing on with a shake-up plan

B&Q parent Kingfisher said today it was ploughing on with a shake-up plan “at pace” as it reported a first quarter slide in sales at the DIY chain.

Sarah Howard, president of Suffolk Chamber of Commerce, and Mark Pendlington, chairman of New Anglia Local Enterprise Partnership, at the celebration marking the first year of work by the New Anglia Growth Hub.

Supporters and staff from the New Anglia Growth Hub today celebrated its first year of work.

The new Escape lounge at Stansted Airport.

A new business lounge at Stansted Airport has been used by more than 9,000 visitors in its first month.

Rooney Anand, chief executive of Greene King.

Proposals from pubs and brewing company Greene King designed to address concerns over its agreed acquisition of the Spirit Pub Company look set to be backed by the UK’s competition authority.

Angus Berry, energy manager at Thames Water, and Richard Robey, sales and marketing director at Haven Power.

Haven Power, the specialist supplier of electricity to UK businesses, has signed a deal with Thames Water worth more than £500million over the next five years.

Most read

Most commented

Topic pages