Small firms are set to fuel the revival of the British business landscape, according to a new report from HSBC Commercial Banking.
The survey predicted that smaller businesses will play a large part in kicking off a resurgence in manufacturing, with goods that are made in Britain enjoying a strong comeback.
Entrepreneurs were also listed as being of huge importance to the improvement of the country’s business sector, bringing new ideas suitable for an ever evolving landscape.
The research predicted a boost in hi-tech manufacturing would be noted over the coming few years, which will benefit many regions across the UK. Head of HSBC Commercial Banking Jacques, Emmanuel Blanchet, told The Mirror, “Out of recessions come new trends and this report crystallises how adaptable entrepreneurs and small businesses are shaping a new business landscape that British business is set to follow.
“The emergence of two new super cities and business specialisms developing across every region of the UK demonstrate the breadth of business ambition and advances being made. The industries identified as the driving force of the new British business landscape enable us to understand not just what the future may look like, but what is happening today to shape that future,” he added.
Business Secretary Vince Cable said that the findings were extremely bright for British manufacturing and in turn for the British economy.
He confirmed that 10 new technology innovation centres will be created across the country, which will support small firms and entrepreneurs in a number of different ways, including offering increased funding and new investment for apprenticeships to allow the firms to expand.
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