The majority of small and medium sized enterprises in the North West are expecting to invest in their businesses this quarter, according to research from Bibby Financial Services (BFS).
The independent funder surveyed 1,000 businesses with a turnover of up to £25 million as part of its SME Tracker, and 57 per cent said they will invest in the three months up to October.
A quarter (25 per cent) plan to invest in technology and equipment, nearly a fifth (18 per cent) said they will recruit new staff and more than one in five (24 per cent) are looking to invest in current employee training.
Nick Kindon, MD for Bibby in the North West, said: “These results are positive as they show owners and management teams investing in the long-term future of their businesses. The increase in those investing in staff training is a great example of these plans and it’s likely that the effects will be felt later in the year, which could spell more positive news in terms of GDP as we lead up to 2015.”
Over one in ten SMEs plan to invest in new premises and just under a fifth will be focusing on new product design.
When asked about expectations for the months ahead, 50 per cent said they expect to achieve sales growth and only seven per cent foresee a decline in orders in the three months leading up to October.
Mr Kindon said he would also expect findings to be reflected in employment figures later in the year