The unemployment in UK as increased to 2.5 million. As per FSB Voice of Small Business Index, small firms are recovering but are not in a position to increase the staff.
According to a survey of 1,400 members of the Federation of Small Businesses, about 63 percent of small businesses expressed that they will keep employing new employees on hold till the next 3 months. This shows that the small firms are not yet ready to increase their staff members.
Small business firms are showing a steady growth as the economy is recovering. About 16 percent of small businesses are expecting their overall business performance to improve over the upcoming months.
Though the economy is recovering, still it is fragile. About 23 percent of the respondents are expecting that their business situation would worsen over the next quarter. About 2 in 5 small business firms are expecting no change in the performance of their business.