British entrepreneurs will step up the rate at which they hire new staff in the next 12 months, with more than six-in-ten claiming they’ll likely make at least one additional hire.
According to the latest EY Global Job Creation Survey, 63 per cent of entrepreneurs anticipate they’ll employ a new staff member in the next year – a significantly higher proportion than in 2015, when just 44.5 per cent expected their workforce to grow in last year’s corresponding period.
A survey of almost 3,000 entrepreneurs revealed that the average rate at which business owners expect their workforce to grow in 2016 was 12 per cent, compared with 9.3 per cent in 2015.
Interestingly, 12 per cent of the new hires made by entrepreneurs are expected to be young employees looking for their first role. EY UK’s Stuart Watson said that this was a positive step.
“It is particularly encouraging to see entrepreneurs’ plans to create growth and opportunity for young people, with four fifths of British entrepreneurs saying young people were important to their growth strategy,” Watson said.
“UK entrepreneurs are in a good place with rising confidence in domestic and global economy underpinning plans to hire more than last year,” added Watdon.
The results of the survey revealed that 29 per cent of the employee’s entrepreneurs expect to hire will come from overseas.
The latest survey results from EY back up recent data published by the government, which revealed that staff numbers in more than a quarter of Britain’s small businesses grew in 2015.
Following the publication of the results of the Small Business Survey, small business minister Anna Soubry commented: “It’s good news that small firms continue to employ more people. This survey shines a light on the small businesses that drive our economy and employ millions of people.”
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