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Are Somerset businesses missing out on national business growth?

images (10)Lloyds Bank have published their regular survey combining both Manufacturing and service sector to assess levels of growth in the economy, and it seems Somerset may not be part of generally positive small business growth. Growth is solid, but reports in the SW and NE show figures are lower than in the central and south east of England.

However, another survey from the accountancy firm BDO found has businesses to be less positive overall, partly due to global economic issues.

Although many small businesses serve a local or national market, there is concern that any business hoping to expand internationally will struggle as export figures stagnate and imports increase.

Both surveys find any growth in levels of employment to be slowing as unemployment approaches pre-crash levels. The International Monetary Fund (IMF) has recently forecast solid growth of 2.25 per cent annually for UK GDP over the next few years.