Originally written by Anna Jordan on Small Business
One third of SMEs are expected to hire in 2021, creating 1.2m jobs in Britain.
Renewed optimism is the driving force behind these hiring plans, with an added desire for SMEs to grow their workforce diversity and prioritise employee wellbeing. In the UK, there will be a bigger focus on ways of working and employee wellness, with 37 per cent looking to improve physical wellness.
According to research from Sage, businesses expect to return to pre-pandemic profitability by Q4 2021. This is down to increased consumer confidence and greater efficiencies.
Three quarters of SMEs surveyed are optimistic about the future of their business and growth trajectory in the next year. This optimism is mainly driven by the vaccine rollout programme (45 per cent), being able to see customers again (35 per cent) and projections of increased consumer spending (32 per cent). Over eight in ten don’t expect there to be another lockdown, with most feeling they’ll return to pre-pandemic levels this summer – both in terms of profitability and staffing levels. A huge 79 per cent of UK SMEs believe they’ll be back to profitability by the summer.
An ability to adapt has been crucial during the