More than two thirds of small and medium-sized in the South West expect to take on more staff over the next 12 months – more than any other UK region – according to a new survey.
Some 59% of firms in the region also believe that permanent, skilled staff will benefit the growth of their firm more than agency or casual staff. 
The HSBC Commercial Banking survey also shows firms are upbeat about their growth prospects, with 52% expecting their turnover to improve in the next 12 months and more than a third saying they will enjoy at least 6% growth.
HSBC regional head of business banking, Nigel Davis, pictured, said: “This survey shows that small and medium-sized businesses in the South West are not only positive about growth, they are more likely to hire full-time staff to help them grow than any other region.
“Hiring and training skilled staff takes investment – which is why HSBC has committed £600m to lend to SMEs in the South West this year and why we are running ‘Strategies for Growth’ workshops to help businesses realise their ambitions.”
Key findings of the survey in the South West include:
- 52% of SMEs expect turnover to grow in the next year, with almost one in ten expecting turnover growth of more than 20%
- Only 11% expect turnover to fall over the coming year
- 68% expect to add a full-time member of staff this year.
- 59% of SMEs believe permanent skilled staff are most likely to benefit their business – against only 13% believing agency staff are best placed to assist them.
- Finding customers is the most pressing concern for all SMEs in the UK, while one in six SMEs say they are concerned by competition.
- Maintaining staff pay rises is a pressing issue for smaller SMEs in the UK, while labour and/or production costs are greater concerns for medium-sized enterprises.
