27/01/10 Kent SME Expectations Are Rising - Business link

19% of Kent SMEs (small and medium sized enterprises) plan to take on staff during 2010 according to Business Link’s research* around attitudes to economic recovery published this week. The research also reveals that SME optimism levels, related to growth in their company’s turnover, have returned to pre-recession levels. Kent SMEs expecting turnover growth dipped to only 26% in March 2009 and rose to 43% in November 2009.

According to the research, more than a third (34%) of Kent SMEs are preparing for better times by training their staff or investigating training and more than half (57%) expect to expand in the medium to long term.

South East trends
Across the South East, the business and financial sector is the most optimistic with 47% expecting their market to improve and 20% of that sector expecting to take on staff, this equates to 170,000 businesses looking to recruit in 2010.

The research identified common characteristics among those businesses (48%) of across the South East which are expecting their turnover to expand in the next year, these included:

• Happy to use business support (61%)
• Use planning tools, either a business plan, sales & marketing or training plans (77%)
• Have a website (78%)

Ross McNally, Chief Executive, South East England Chambers of Commerce, commented: “Chamber of Commerce members in the South East of England are certainly expressing a positive outlook for 2010 with positive signs of recovery in parts of manufacturing and across key service sectors for the region. They welcome and intend to take full advantage of the business support services available.”

Tony Logan, Business Adviser Manager at Business Link in Kent, said: “The research confirms the upturn in business attitudes in the region which Business Link Advisers are noticing through their meetings with companies and sole traders. 

“Optimistic businesses are open to using business support and use planning tools.  Business Link provides free support and can help you to produce an action plan for your enterprise. So to make sure that you are doing all you can to prepare for the economic upturn and explore ways to gain the initiative ahead of your competitors, get in touch with us.”

The Report covers the findings of the South East Business Monitor, a survey of 203 SMEs in Kent carried out in November 2009.
ENDS

*Hot Topic Flashlight No 28: Preparing for Economic Recovery, is available at www.businesslink.gov.uk/southeast/research.

More Kent business news here. Kent news updates free to your mailbox with the Kent Review.