Research shows SMEs are confident for the future

How confident do you feel about the future of your business? Do you have plans for expansion, for a new hiring strategy, for increasing investment in your office space?

Good news – SMEs across the country are feeling increasingly positive about the future of their companies, and we hope you are too!

Research from YouGov and the Centre for Economics and Business Research (CEBR) shows that almost half (49%) of SME owners don’t have any serious business concerns at the moment.

Of course, a completely stress-free life for business owners is highly unlikely, but it’s great to see the business community in the UK as a whole coming together to show a united front of positivity.

Despite this, 33% of owners did confirm that finding top talent on their next recruitment drive was their most common anxiety.

Locating to Spectrum Business Park in the heart of the North East should help to ease any worries you have over recruitment in the future; there are over half a million people in the catchment area surrounding Spectrum, with 17,000+ of those currently looking for work. Also, for higher salaried managerial position, the catchment area expands to almost 705,000 people.

The workforce in the Seaham and Durham area are balanced in age and skill but with a specialisation in financial services, and with training participation levels reaching 24% in the area amongst service sector employees (compared to only 20.6% nationally), it’s clear there’s a huge pool of talent to be found near Spectrum.

Rob Harbron is the managing economist at CEBR, the institute who conducted the research, and has commented that “UK unemployment is falling back to near pre-financial crisis levels, bringing with it the challenge of skills shortages. However, despite these, it’s encouraging to see a large share of the SME population hoping to take on more staff.

With low cost inflation supporting bottom lines, 2015 as a whole is looking to be a positive year.”

There’s also no shortage of this success here at Spectrum Business Park; as shown in our previous news items, we have tenants ready to triple in size, receiving investments for expansion, and on course for £2million in turnover in 2015.

This year is a great one for driving your business forward – if that means locating to a new office for you, we can help.

Contact us today to find out more about the serviced and corporate office space at Spectrum Business Park – just call 07946 439 970 or email

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