The manufacturing industry is smiling wider than anyone else, with optimism for future growth at an all time high. The report, by BDO, asks businesses if they expect growth during the next two quarters. The push from manufacturing raised the index to 103.8 in January, the highest reading since the original report was published in 1992.
But it wasn’t just manufacturing businesses feeling optimistic about the future. The service sector as a whole showed improved expectation for growth and hiring expectations were up as well. All this comes together to show that entrepreneurs are expecting more success than they have in decades, and will need to bring in extra staff to keep up with their growth.
Is your business feeling this kind of optimism? If someone asked what the next six months held for you, would you be filled with joy or anxiety?
All the signs are hinting that more and more small business owners will be falling on the joy side of that question. Along with BDO’s research, the National Institute of Social and Economic Research has forecast that Britain’s economy will grow by 2.5% this year. The think tank also stated that the economic recovery has become “entrenched”.
This recovery across the country means more people spending more money and plenty of opportunities for your business to take advantage of it all. How will you capitalise on British customers being willing to splash the cash more than they have in years?
For some tips to get the most out of your customers, check out our guide here.