SMEs are leading the UK’s way to business recovery

UK roofers, builders, hauliers and security contractors are leading the nation’s economic recovery with cross-sector growth in 2013, according to recent research.

In the research, carried out by leading finance provider Bibby Financial Services, 4000 of the UK’s small businesses were surveyed, showing that performance in manufacturing, construction, transport, wholesale and business services has increased.

Manufacturing and construction have both experienced their strongest growth in the first half of the year since 2007, indicating that the activity over the rest of the year should reach a record high.

This good news comes after data was released showing that the country GDP has grown by 0.6 per cent for the second quarter of the year.

CEO of Bibby Financial Services, David Postings, said that the results of the research were encouraging: “In line with wider economic activity, we have seen positive performances from SMEs across all five sectors during the first half of the year.

“Our customers are a good indicator of the wider economy because of their industry spread and size. While we are not out of the woods just yet, the research for the second quarter shows a period of steady growth among SMEs using invoice finance.

“This funding facility provides the platform they need to grow and to push the economy forward to recovery.”

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