With the festive hangover now behind us all, two interesting articles show mixed emotions regarding 2014 and the potential for financial recovery.
The first piece of research emerged from Bibby Financial Services, their research focused on SME owners and their optimistic views of 2014 following strong economic performances in 2013.
Of the 1,000 SME’s surveyed, 69% were feeling optimistic that the economy will not decline in 2014. Importantly almost 60% of SME owners were expecting to see steady growth this year and a similar number had created a 12 month business plan, compared to fewer than 30% at the beginning of 2013.
With the confidence in the economy seeming to be growing slowly, the research also highlighted that business owners are looking towards expansion, over 39% were looking to invest in their business next year.
In stark comparison the study coincided with a recent TUC survey, which polled voters. Only one in 50 believed they had benefited from the economic recovery so far, an interesting disparity between businesses and the man on the street.
The highlights of the TUC report showed that only 2% believed they had seen an improvement since the recovery and fewer than 20% believed they would see an improvement in 2014. The poll showed a distinct pessimism towards any benefit from the recovery and most do not expect to see their wages rise in line with the cost of living.