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Small firms keen to invest over next year, report finds

Smaller businesses are driving growth and investment at a time where larger firms continue to lack confidence to do the same, according to new research.

Deloitte and the Chartered Institute of Marketing (CIM) found that those in the manufacturing and construction industry are especially confident of growth over the next 12 months.

Furthermore, around 33 per cent of small firms believe they will be increasing their marketing spend over the next year, with a quarter set to hire more marketing staff.

Anne Godfrey, the chief executive officer of CIM, explained that a lack of confidence among bigger firms is "worrying".

"Marketing plays a crucial role in driving growth and performance, and marketers are uniquely positioned between the business and the customer," she noted.

"They understand how consumer confidence and business sentiment interact, and our study shows that times are clearly still very tough."

Local Growth Minister Mark Prisk said earlier this week that the government will be doing its bit to help small firms on the high street as Westminster looks to haul the UK out of economic problems.

Posted by Emily Smith

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