Are small businesses bouncing back?

With the news yesterday that more and more small businesses are being created, are small businesses bouncing back despite economic uncertainty and negativity? A new survey seems to suggest they are, as it revealed more positivity from small businesses in their own prospects for growth.

According to information technology giant Hewlett Packard (HP), more British businesses have seen double digit growth over the last six months since the last study done for the previous six months.

The independent survey of companies with less than 1,000 employees revealed that 63% of respondents said that their business will grow in the next six months, with the average growth score being 14%.

HP suggested that this “paints a slightly more optimistic picture for the UK economy”.

Rebecca Shears, marketing chief for HP said of the figures, “Considering the rather gloomy picture the Index painted last July, these findings are to be broadly welcomed, especially the news for sole traders”.

Social media lead generation

The company also revealed that half of the respondents to the survey have turned to social networking for promotional reasons, with the majority revealing this had generated new business and increased revenues.

Shears added, "Technology is a key driver for business growth, and the arrival of ecommerce trading sites and social networks aimed at businesses offer enhanced sales and marketing opportunities”.