Triteq had one of its biggest years of growth in 2010, winning major new contracts and increasing its team, across all departments. Whilst GDP figures show that the economy grew by 0.8 percent during the third quarter, which many see as an encouraging result, job creation in the UK is not as bouyant and over 10.4 percent of firms expected to decrease employment over the three months to December 2010.
It was anticipated that the Comprehensive Spending Review would include plans for a Small Business Programme for Growth, but expectant small business owners are still waiting for more news.
Other plans have been greeted with great enthusiasm, including measures to increase the number of apprenticeships by 50 percent to 75,000, steps to safeguard the Post Office Network by injecting an extra £1.3 billion, especially as many small businesses rely on the services on offer. In addition the proposed pilot for faster broadband and the move to a low carbon economy are all seen as positive support.
The next year will see big challenges for the 4.8 million small businesses in the country and they clearly need a helping hand to regain a strong position, in return – through them there is the opportunity to create new jobs and home grown talent.
This article first appeared in the Business Network magazine, January 2011.