Survey suggests outcome not overly affected by May’s General Election

Around three-quarters of SMEs are looking to expand their workforce in 2015, buoyed by a continuing growth in the UK economy, according to research compiled by Vistage.

The Vistage Mid-Market Confidence Index is based on a poll of 445 CEOs, MDs and owners of British-based SMEs. It reveals that almost one-half (44%) expect the economy to improve this year – while only 9% expect the financial outlook to get worse across the same period.

A large majority (80%) of medium-sized business owners expect sales at their own company to increase in 2015 – while only 5% expect them to fall. Subsequently 63% of those polled expect to see profits increase across the year and around one-third expect them to stay the same.

This confidence in both the wider economic outlook and conditions in their own businesses has led to many SME leaders looking to increase their workforce. More than one-quarter (27%) say they intend to hire during this quarter and a further quarter plan to increase headcount steadily throughout 2015.

Vistage CEO Steve Gilroy commented that, 2014 having been a good year for SMEs, many owners are looking forward to “more of the same” this year.

“Regardless of the impending General Election, the UK’s medium-sized businesses’ owners are generally expecting another strong performance this year,” he said. “This is good news for the whole economy. 

“While entrepreneurial start-ups are great for the future, most remain small and create few jobs.  By contrast, many medium-sized businesses are job-creation engines and big investors when the conditions are right… as they are now.”