Page 15 - Bus365 Issue 11 2021 WEB

MORE THAN ONE IN THREE UK

SMES NOW PLANNING TO GROW

THEIR WORKFORCE

A survey by alternative lender Capify found that UK SMEs
35% of small to medium-sized businesses plan However, a lack of talented workers and skilled
to grow their workforce by more than 10% staff was considered to be a key challenge with
Investing in people and training was also listed 36% of SMEs saying they expected this to be
as the number one business priority by 41% of an issue in the next 12 months

Recruiting new sta has become a top priority for UK SMEs with more than one in three expecting to
increase the size of their workforce by more than 10% over the next 12 months, according to a new
study by alternative lender Capify..
ore than 250 SMEs were involved in “We know that the small business community is “With the end of furlough, rising infl ation and
the survey, which also found that an resilient and it’s promising to see that many are the recent issues around energy prices, it’s no
Madditional 58% expected their sta optimistic about the future, with investment and surprise that SMEs do have some concerns to
numbers to stay the same and only 7% were future growth important priorities.” keep in mind,” added John.
anticipating a reduction.
The fi gures on recruitment expectations are in “It could be a challenging 12 months for SMEs
When asked to prioritise areas for investment stark contrast to the previous 12 months, with in many sectors as margins become tighter –
over the next 12 months, people and training the Capify survey fi nding that 24% of businesses especially if increased overheads need to be
came top of the list with 41% of SMEs identifying had reduced their sta numbers during the managed alongside adding new sta .
it as a key business priority. pandemic.
“With future growth as a priority, SMEs must
However, fi nding new sta is expected to be a Around 64 per cent of SMEs said they had ensure strong cash fl ow in their business, no
big challenge, with 36% of SMEs highlighting it also accessed the Coronavirus Job Retention matter the industry. Alternative fi nance options
as a challenge in the year ahead. The issue of Scheme (CJRS), with the government support have been instrumental in helping SMEs through
COVID and possible future lockdowns topped ending on 30 September, analysts estimate that this period and they will no doubt play a huge
this list with 55% of SMEs worried about the around 700,000 people may lose jobs, hours or part in supporting growth goals for the future.”
impact the virus may have. Rising infl ation came earnings, so it remains to be seen how this will
second in the list, with 34% of SMEs concerned impact SMEs and the availability of labour across
about escalating costs. key sectors.
John Rozenbroek, CFO/CCO at Capify said: “It’s
positive to see UK SMEs putting their sta at the
forefront of business strategy, with people and
training coming as a top priority for the majority
of businesses in our latest survey. People
are truly a business’s greatest asset and it’s
encouraging to see so many SMEs valuing this
in their future plans with clear plans to expand
their workforces.

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