Tagged: North East businesses

What a difference a day makes

Yesterday we posted an item of “research” that stated that –

Two thirds of the region’s Small and Medium Sized Enterprises (SMEs) intend to recruit new staff in 2014, a study shows.

Research by Yorkshire Bank also found North East businesses which plan to create new jobs expect to grow employee numbers by 11%.

It also found that 64% of North East SMEs intend to recruit new employees.

On average, the North East’s 135,000 SMEs expect to recruit more than 7% more staff. If this figure is applied to the North East’s total SME workforce of 429,000, almost 31,000 new jobs could be created.

Alan Young, regional director for Business and Private Banking with Yorkshire Bank in the North East of England, said: “SMEs are crucial to the UK economy and its emerging recovery and we will continue to support them in 2014.”

What a difference a day makes ! We did warn yesterday that this was at best a guess and not a  statement of fact. Today we learn that –

A quarter of small and medium-sized firms are supporting their businesses with personal savings and handouts from family and friends, a report has claimed.

Business funding specialist Bibby Financial Services, which commissioned the research, said the reliance on personal finance prevented firms from being able to take advantage of the first stage of economic recovery.

The survey revealed that almost half of small and medium-sized enterprises (SMEs) used just one source of funding, with 20% of firms saying they relied on a bank overdraft and the same amount again using a bank loan.

Source – Newcastle Journal, 01 Jan 2014

Two days, two different pieces of “research” that appear to contradict each other. Who do you believe ?

Neither, I guess. You can only keep on keeping on as best you can, hope for the best but plan for the worst.

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Study “is boost for North East jobseekers”. Maybe.

Two thirds of the region’s Small and Medium Sized Enterprises (SMEs) intend to recruit new staff in 2014, a study shows.

Research by Yorkshire Bank also found North East businesses which plan to create new jobs expect to grow employee numbers by 11%.

It also found that 64% of North East SMEs intend to recruit new employees.

On average, the North East’s 135,000 SMEs expect to recruit more than 7% more staff. If this figure is applied to the North East’s total SME workforce of 429,000, almost 31,000 new jobs could be created.

Alan Young, regional director for Business and Private Banking with Yorkshire Bank in the North East of England, said: “SMEs are crucial to the UK economy and its emerging recovery and we will continue to support them in 2014.”

Source – Newcastle Journal,  31 Dec 2014

Wow ! Great news, eh ? Happy days are here again !

Or maybe not. The important passage from the above is :

On average, the North East’s 135,000 SMEs expect to recruit more than 7% more staff. If this figure is applied to the North East’s total SME workforce of 429,000, almost 31,000 new jobs could be created.

And the important  words are expect and could.  All this amounts to  is a guess at what could happen, if the universe and, more to the point, the neo-liberal capitalist system we live under, played by the “rules”.

Its just as likely that the system will throw these SMEs to the wolves, should they decide it suits their agendas.

And produced by a high street bank ? With their well-proven  predictive and economic  insights ? Do me a favour…