Small businesses in the West Midlands spurn job cutting trend
New research suggests that SMEs in the West Midlands are at the forefront of the creation of new job opportunities, according to Santander Corporate Banking.
The study claims that 16% of small businesses in the region plan to increase staff before Christmas, while just 11% plan to make job cuts. A total of 66% expect to maintain their current workforce number.
Keith Webb, West Midlands director for Santander Corporate Banking, said:
“SMEs have proved to be remarkably resilient throughout the recession despite considerable difficulty. It is encouraging to see that the confidence recorded in our Index may be translated into jobs.
“Unemployment is traditionally a lagging indicator and is expected to keep rising even when the recession is officially over. It would appear that smaller businesses – and particularly those with a turnover of less than ┬ú5 million – are emerging from recession slightly quicker than larger rivals.”