Roger Galbraith, an expert commercial director announced the stabilisation of Small and Medium Enterprises in the UK, despite the economic difficulties faced in 2011. Lloyds TSB Commercial’s area director in Lincolnshire and the East Midlands stated that the end of 2011 had seen an indication of growth and the stabilising of UK small businesses.
According to the Purchasing Managers’ Index by Lloyds TSB, which is produced on a monthly basis, business activity in the private sector signalled growth in all areas of the UK, which offers hope for 2012. More than 1200 companies in the service sector and manufacturing industry were surveyed for the report. The results reveal that the huge number of new businesses creating employment has been a significant factor in the stabilisation. The number of new orders rose in the East Midlands during December, and the level of employment in the area rose for the fifteenth month in a row.
However, Galbraith cautioned that the Eurozone uncertainty will have an effect on exportation, which could reduce the optimism felt in the domestic economy. The businesses which demonstrate the ability to trade beyond Europe are experiencing success which could result in expansion for some companies. The Business in Britain report highlights that just over half the companies in Lincolnshire and the East Midlands will retain their current level of investment in the first six months of 2012, while 66 percent will maintain their workforce during the first half of the year. Galbraith is encouraging businesses to seize all available opportunities, including support from lenders and business mentoring agencies.
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