Small firms to recruit 'extra 450,000 people' over next year

The UK's smaller firms are looking to recruit an extra 450,000 people in the next 12 months, according to research out this week.

GE Captial's European SME Capex Barometer found that small businesses are also set to invest an extra £45.8 billion over the next year, a 23 per cent increase on when they were asked in the first three months of 2012.

Some two-thirds of the enterprises questioned said that they are investing to upgrade their existing equipment over the next few years.

John Jenkins, Chief Executive of GE Capital UK, said that it is "good to see UK businesses one again looking to increase investment".

He added: "In particular, a drive to modernise and upgrade equipment should spark a corresponding increase in productivity. This is a welcome sign for the UK economy and will provide a boost to wider economic recovery."

It comes after the Guardian's Small Business Network revealed that optimism among small firms is increasing.

Posted by Thomas Fletcher

Date published 8 Nov 2012 | Last updated 8 Nov 2012