Young British businesses are hungrier for growth, study suggests

Start-up businesses that have been trading for five years or less have imminent plans to recruit new staff and expand their horizons by the end of next month, according to new research.

A recent study carried out by Hitachi Capital suggests that one in five (20 per cent) of such small and medium-sized enterprises (SMEs) expect to expand their workforce by hiring new members of staff before the end of April 2017.

This is comparable with 17 per cent of SMEs that have been trading for six years or more, suggesting that younger, less established businesses are more confident in their firm’s short-term growth.

Hitachi Capital’s quarterly British Business Barometer also found that, regionally, small ventures in London, the South East, the North West and Scotland had the most ambitious recruitment plans for coming months.

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