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Tuesday 3 July 2012

Business growth bucking economic trend

Business growth in the UK continues to outstrip economic expansion as companies report increased output amid uncertainty, the latest quarterly economic survey by the British Chambers of Commerce (BCC) reveals.

The figures, comprising responses from 7,805 businesses across Britain, show that many of the balances are in positive territory and approaching the levels seen before the recession in 2007.

In addition, there has been a surprisingly good improvement in exporting activity, suggesting that businesses are looking to exporting as a source of growth.

Figures measuring firms' intentions to invest in training increased among manufacturers, and remained stable but unchanged for service sector firms, noted John Longworth, director general of the BCC.

He added: "Economic growth should be the government's main priority. Growth cannot wait. The government must take an imaginative and brave approach to stimulating the economy and helping businesses thrive."

The creation of a business bank, for example, would ensure that new and growing companies can access the finance they need to invest in new products and services, export to new markets, and take on more staff, Mr Longworth said.

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Posted by John Oak and Wayne BlyADNFCR-1617-ID-801399573-ADNFCR

Source: The Sales Director News

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