Small to medium-sized enterprises (SMEs) could be the driving force for an economic recovery in the UK over the coming months, it has been argued.
Ensuring SMEs continue to invest in the future of local communities is key to getting the country back on a positive economic footing, as many firms have been hoarding cash in recent years and it is now important that these funds are reinvested in ways that deliver long-term growth for the UK economy.
The Office for National Statistics revealed that the third quarter of last year saw a 4.3 per cent year-on-year rise in business investment. Overall, outlay for UK firms rose by 0.3 per cent on the previous three months to £30.1 billion.
The figures showed the UK’s manufacturing industry performed particularly strongly over the three-month period, with a six per cent increase on the previous quarter.