Employment up among small businesses

Small businesses in Britain have seen the largest growth in employee numbers since 2010, according to the latest figures from the Federation of Small Business (FSB).

The support organisation’s Voice of Small Business Index found that 15% of small businesses had increased their the staff bases in the third quarter of 2013, the highest figure reported since the Index began three years ago.

John Allan, national chairman for the FSB, welcomed the findings, saying that the figures were an indication of growing confidence among the country’s small businesses. “That said, the most recent unemployment figures show that long term unemployment, particularly among young people, remains a concern,” he added.

According to Salon Services’ Beautiful Britain report released earlier this year [LINK] UK salons on average increased their staff bases by 10% in 2012, and some 26% planned to take on new employees during 2013.

Meanwhile, as small business’s confidence is the market grows, the majority are avoiding adding to their debts in order to boost business during the economic recovery.

According to the Bank if Cyprus UK’s Owner-Managed Business Barometer, which surveyed 503 business decision makers with ownership or part ownership of a small company. The survey found that some 58% of respondents had no need for additional finance during the three months to July 2013, while a further third put their own money into the business rather than seek a loan from other sources.

Bank Of Cyprus UK’s Tony Leahy said, “Given the prolonged, difficult climate that owner managed businesses have had to manage through, any signs of optimism should be welcomed and supported.”