As we start to move into the Autumn after a busy summer, SMEs are ensuring day after day their services are still running. With a shift in the recruitment process and the government investing more spending in small businesses it has been an interesting week in the world of SMEs. Please see below a roundup of this week’s news:
- According to new research by Lloyds Bank Commercial Banking, SMEs are starting to employ more faith in millennials, with nine in ten businesses believing that future growth relies on them. Following this shift in the recruitment process SMEs are now investing 15% of their annual turnover into employing this generation.
- The Government’s Cabinet Office has outlined plans to spend a third of its procurement budget on SME’s. The commitment was welcomed by the Federation of Master Builders, who represent the SME sector of the building industry, and is urging the rest of the public sector to follow suit. Central government invested £11.4bn with businesses in 2013/14, about a quarter of central government spend (26%). By 2020 businesses are hoping to increase this to a third.
- According to the annual survey conducted by Lex AutoLease, investing in company cars is a top priority expenditure for SMEs. The research of 1,500 companies found that 28% of companies in the construction sector, and 20% in the transport sector were looking to replace their car, either by lease or investing in buying, this year.
Let us know your thoughts on this week’s stories. Are you recruiting more millennials? Were you aware of the new government spending? How much are you investing in company cars? Contact us by commenting below or tweeting @Fujitsu_UK or @FujitsuSMELady.