New research has revealed that nearly a fifth (19%) of SMEs in the UK are planning to recruit more staff for new roles following the UK’s successful vaccine roll out.
The survey, which was commissioned by Hitachi Capital Invoice Finance, spoke to more than 1,000 senior business decision makers at SMEs across the UK from a range of different industries about how the vaccine rollout has impacted their business plans for the year ahead.
As well as an optimistic outlook on recruitment, a further 19% of SMEs also said they were planning to reverse redundancy decisions as a result of Britain’s inoculation programme.
Hitachi Capital’s analysis also examined the impact the vaccine rollout is having on jobs across the UK, and the picture looks very positive for SME workers in the capital. More than a fifth of small businesses in London (21%) have reversed redundancy decisions following the rollout, while nearly a third (29%) of London SMEs are now able to recruit new staff members.
Only 14% of SMEs in the North East and Yorkshire are planning to reverse redundancies with only 7% of those in the North East looking to actively recruit new staff this year.
Regions planning to recruit new staff as a result of vaccine rollout
- London – 29%
- Scotland – 21%
- North West – 20%
- East of England – 20%
- South East – 19%
The hospitality and leisure industry stands to benefit the most from the vaccine rollout with more than a quarter (27%) of those surveyed in the industry agreeing that they’re planning to reverse redundancies, while 23% of IT businesses, 22% of manufacturing firms, 21% of finance businesses and a fifth (20%) of construction SMEs agreed the programme had saved jobs.
Hitachi Capital Invoice Finance’s research also examined the impact of the country’s vaccine rollout on SME solvency and discovered many are feeling positive, with more than half of businesses surveyed (52%) hopeful they will stay open as the nation continues to be vaccinated at speed.
Commenting on the research, Andy Dodd, Managing Director at Hitachi Capital Invoice Finance, said: “The UK is leading the way when it comes to vaccine rollout, and it’s great to see the success of the programme is translating into business confidence for hundreds and thousands of SMEs.
“Many employees up and down the country across a range of industries including hospitality and leisure, will be grateful for greater job security. The news that many businesses are now beginning to think about hiring new recruits is also a huge positive for the wider economy.”