Close Brothers

Over Half Of All Small Businesses To Freeze Recruitment For 2017

Over Half Of All Small Businesses To Freeze Recruitment For 2017

51.2% of all UK small businesses have no plans to recruit new staff in 2017, according to a report by Close Brothers. The survey of 900 small enterprises revealed that 22.9% will turn to freelance workers or temp staff instead of taking on full time employees, with 58.6% worried about the current cost of recruitment given the uncertain economic environment. When asked about their reasoning behind hiring fewer staff, Brexit was seen as major factor by many – with 19.2% hiring fewer new workers in the light of the UK’s decision to leave the EU. Worryingly still, 45.6% of respondents admitted to actually letting staff go in the past 12 months, with just 10.4% saying Brexit prompted an increase in hiring. David Thomson, of Close Brothers Invoice Finance, said: “While the UK’s economic performa... »

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