Small Businesses Innovate For Growth

Small Businesses Innovate for Growth

Good news for job seekers as the results are in for Hiscox’s DNA of an Entrepreneur report 2015 and more than one in five firms plan to recruit in the coming year.

The annual report, which reflects the views and experiences of 4,000 small business owners and managers in Europe and the US finds that inventors and exporters are leading the recovery with a surge in product development.

Report highlights include optimism reaching a three-year high, with nearly two-thirds (64%) of UK firms stating they were positive about the year ahead.

With a focus on targeting growth, the report reveals 22% of UK firms interviewed aim to recruit in the coming year, with the majority taking on juniors, apprentices and interns, which is great for those entering the job market.

A third highlight of the report is the focus on innovation as the self-help solution to economic recovery. Just over half of the respondents plan to launch a new product or service in the coming year.

Says Adam Michaelson: “Clearly the report is hugely exciting and shows the new sense of buoyancy among small businesses that makes great reading for job seekers. As a sector, they have emerged from the recession dynamic and resilient, eager to grow and expand, and now play a disproportionately large role in global innovation, which all bodes well for the future.”

The study, now in its seventh year, is based on responses from more than 4,000 small business owners an senior executives in six countries, provides a unique insight into the mood and financial well being of the small business sector.

There were 1,000 responses in both the UK and US and 500 each from France, Germany, the Netherlands and Spain.

To read the report in full, please see Hiscox’s DNA of an Entrepreneur report 2015