Midland SMEs retain more staff in 2009
A recent survey by Close Invoice Finance has found that 82% of SMEs in the Midlands are not expecting to make redundancies over the next 12 months.
This comes amid news that the UK unemployment rate has risen to a 14-year high after the number of jobless hit 2.47m.
Despite the positive news of Midland SMEs, the jobs situation in the UK is still said to be severe. Corin Taylor, senior policy adviser at the Institute of Directors, says:
“The talk at the moment may be of green shoots but today’s unemployment figures show that the pain of the recession is far from easing. We have a long road to recovery to travel.”
However, figures by Close Invoice Finance show a more positive picture for both small business owners and employees. Last year’s figures showed that 11% of Midland SMEs expected to make redundancies, while this year only 2% are expecting to make job cuts.
According to the Birmingham Post, Peter Flynn, of Close Invoice Finance, said:
“It is very pleasing to see that small businesses in the region, the engine room of the economy, are showing their strength and loyalty to employees.”