More businesses expecting growth and staying put for longer, says Avanta
6 August 2014: SMEs appear to be benefiting from the uplift in the economy, according to new figures from Avanta Serviced Office Group, London’s leading serviced office provider.
A survey of its SME client base found that the proportion expecting ‘some’ or ‘significant growth’ this year is up by five per cent on the same time last year (71 per cent in 2013 compared to 76 per cent in 2014.)
This positivity can also be seen elsewhere in the business, with SMEs choosing to stay in Avanta’s offices for an average of 22 per cent longer this year than in 2011. The figures suggest businesses are in a position to make a longer term commitment on their office space and are therefore ‘putting down roots’ for longer.
The findings reflect the latest GDP figures, which show that the economy is now larger than it was prior to the recession, as well as the International Monetary Fund’s increasingly positive growth forecast for the UK.
Avanta client, Signature Recruitment, is one of those who has felt the benefits of the economic recovery and has felt confident putting down roots in an office space for a number of years.
Signature Recruitment was born in the midst of a global economic recession. But far from weathering the storm, Signature has flourished – growing from one to 20 employees over two offices within four years. With plans to double in size over the next six years as the economy continues to recover, Signature looks set to stay put for a few years yet.
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Evelin Zauchner, Director of Signature Recruitment said: “Starting up in a recession will always present challenges, but at Signature Recruitment we have been able to overcome the obstacles to thrive over the last few years.
“I was encouraged to hear that the economy is looking strong again and this means that hopefully the next few years will be even more positive. I know that lots of businesses have been struggling so it’s great to hear that confidence is on the rise again. It certainly helps to be able to commit to a long-term base for your venture and Avanta has certainly been a huge support since I started up in 2010.”
Alan Pepper, CEO of Avanta Serviced Office Group, commented: “It’s been a tough few years for many SMEs across the UK, but these figures show we are finally turning a corner. While it always takes a while for macro-economic trends to filter down to the man on the street, our data shows that this shift is beginning to take place.”Share this article