Businesses confident for New Year

The latest business survey conducted on mid cap businesses has indicated that businesses are looking forward to a successful New Year with 58% expecting an increase in their turnover in 2011 and 93% of those are also seeking finance to obtain what they need.



The survey showed that mid-caps are emerging well from the recession with the majority of the businesses now looking to seeking finance to help expand their businesses in 2011. 93% of those seeking finance were also successful compared with 82% of last year.



During 2011 it is reported that 58% of mid cap businesses expect their sales to be higher than current levels. Also 54% of mid-caps also reported an increase in turnover over last year.



Mark Prisk, Minister for Business Enterprise, said "Mid-caps are an essential aspect of our economy, employing over a fifth of our workforce and helping boost growth. It is pleasing to see they are recovering well from the recession and are facing fewer problems with access to finance."





The survey showed that only 7% of businesses reported finance as a barrier to the success of their business, down 10 percent on last year’s figure of 17%.





Despite mid-cap businesses only making up a mere 0.5% of business enterprises in the UK, they make a significant contribution to the total UK employment. Providing 21% of UK jobs and almost 20% of total turnover.





Alex Askew, Marketing Consultant at Danbro PAYE umbrella calculator, says "This is great news that businesses are now looking to the future in the post recession economy. This is hopefully an indication that businesses should see significant growth in the year to come."





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