According to a recent survey from the British Chambers of Commerce (BCC), although the UK economy remains weak, businesses are growing.
The results from the BCC survey have shown that there has been a small rise in exporting activity among both the service sector and manufacturing firms in the three months to the end of June.
In addition to a slight increase in exporting activity, the survey also found that the balance of service sector firms that had taken on staff rose six points to ten percent, with firms expected to hire more employees over the next three months.
However, the quarterly survey of almost 8,000 SMEs says that the pace of activity is too slow for a sustainable recovery; and John Longworth, director general of the BCC has called for the creation of a national business bank and more infrastructure spending, claiming bold action is necessary and adding: “Growth cannot wait.”
Mr Longworth went on to say: “While domestic growth continues to bump along the bottom, the silver lining is an increase in firms looking for export opportunities, and in many cases, with countries outside Europe.
“Growth cannot wait. The government must take an imaginative and brave approach to stimulating the economy and helping businesses thrive. Headline-grabbing U-turns on fuel duty are not enough to get the economy back on track.
“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.”
As an accountant; Roger Isaacs specialises within business turnaround and business valuation.