Wilson Wright Partner Blog

Young British businesses are hungrier for growth, study suggests

Start-up businesses that have been trading for five years or less have imminent plans to recruit new staff and expand their horizons by the end of next month, according to new research.

A recent study carried out by Hitachi Capital suggests that one in five (20 per cent) of such small and medium-sized enterprises (SMEs) expect to expand their workforce by hiring new members of staff before the end of April 2017.

This is comparable with 17 per cent of SMEs that have been trading for six years or more, suggesting that younger, less established businesses are more confident in their firm’s short-term growth.

Hitachi Capital’s quarterly British Business Barometer also found that, regionally, small ventures in London, the South East, the North West and Scotland had the most ambitious recruitment plans for coming months.

If you are a small business owner, or you are setting up a new firm and establishing yourself in the business world, it is crucial to make sure that you explore all of the expansion opportunities available to you. This can be achieved by ensuring that you are supported by experts who understand today’s business environment and are experienced in helping people just like you to achieve specific entrepreneurial goals. It is equally important to seek out expert tax-planning assistance and advice.

Wilson Wright are here to help. We can assist you with all tax-related matters and ultimately help you to get ahead in the business world. Our team can advise you on managing your spending and day-to-day costs, and help you to implement tax-efficient business structures and find your feet on the path to success.

For more information about our services for small and start-up businesses, please contact us.       

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Warren Baker
Warren Baker
Partner at Wilson Wright


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