The GDP figures of last quarter of 2009, show that the UK economy had emerged from recession. According to a study by Easy Connect, overall 84% of businesses believe that the economy will show growth, but, of them only 5% say it to take place in the next 3 months, 21% say that it may take about 3 to 12 months, and 58% think it will be within 12 months to 2 years. 15% of the respondents feel that worse is yet to come. The above views came from the respondents, irrespective of the size of their businesses. However, of the respondents who think that future of the economy will be worser than now, 57% of businesses had less than 10 employees.
As all the businesses are aware, growth will not be seen immediately, all are adopting a cautious approach towards their businesses.
The cautious approach is being widely developed in the sectors of, travel and transport sector (83% of respondents from this sector answered that they were being cautious about their businesses) and HR industry (75%). Only, 15.2% of UK SMEs are recruiting as they hope their business to grow in future.