Optimism Builds Among Transport Firms As Two Fifths Say They Will Invest In 2015

MORE than a third of small and medium sized transport businesses say that trading conditions are improving, with two fifths saying that they will invest in their business during 2015.

Results of the latest Close Brothers Business Barometer also reveal that 31% of transport firms believe they will expand over the course of this year.

Managing Director of the Transport Division at Close Brothers Asset Finance, John Fawcett said: “The UK economy has turned a corner, with the European Commission telling us that it is expected to grow by 2.4% over the course of this year.

“This is of course good news for businesses of all sizes, but particularly for smaller firms that have arguably struggled more than most to thrive over the past five years.  Our survey results suggest that four in 10 transport firms are now feeling confident to make strategic decisions about growth.”

The survey, which canvasses the views of SME owners and senior management from a range of industry sectors, also shows that two fifths of businesses are planning a recruitment drive this year, with just 4% stating that they will reduce headcount.

Over a third (35%) of transport firms polled said that they are actively seeking funding to support growth.

“The challenge now is to ensure that these ambitious small businesses can access the finance they need to achieve their growth and job creation targets.  One of the biggest barriers to growth is accessing appropriate funding. It is essential that businesses are able to access the right type of finance at the right time for them and they can only do this if awareness of the full spectrum of financial options continues to rise.

“As an asset finance provider, we are glad to see a growing recognition from both the government and the business community for the role alternative finance is playing in supporting business growth,” added Mr Fawcett.