According to new research from Bibby Financial Services, nearly 3m UK SMEs intend to invest in their businesses over the next 3 months.
1000 businesses, with a turnover of over £25m, were surveyed in June with 59% saying they’ll be investing in themselves soon.
It was found 27% were going to invest in technology and equipment, 20% will be hiring new employees and 23% would be putting money into staff training.
10% were looking to invest in new offices, which was an increase from 8% in the second quarter. 18% were going to look at product design.
David Postings, the UK CEO of Bibby, said: “ Across the SME population in the UK this equates to 2.9 million businesses investing over the months leading up to October, which is obviously very positive for the economy. 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 new premises is a clear indication 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. If businesses have the financial means to grow, then undoubtedly they will need to take-on staff, move to larger premises and buy equipment and machinery, which all have a positive multiplier effect on the economy.