Economic upturn starting a business

Posted by admin on 1 March, 2010 under Business advice | 3 Comments to Read

There is certainly some very good data coming though at present albeit combined with some not so good news, so things are looking good for the UK economy.

I read today that the manufacturing sector grew last month at the strongest rate for 15 years – and Mr Noble (chief executive at the Chartered Institute of Purchasing & Supply) said:

“Companies reported that higher demand from export markets wasn’t just on the back of the softer sterling but also improving global market conditions. Meanwhile there were mentions that many production lines, which ground to a halt at the height of the recession, kicked into action again. Good news was also reported on the job front as firms – mainly SMEs – hired staff for the second consecutive month in line with increased levels of production.”

So now is a good time to start looking at either setting up in business or buying one, as the outlook is on the up and yet interest rates are still relatively low. I appreciate that it is not so easy to get bank lending right now, but so long as you have a good solid proposition backed up by a good business plan and sound cash flow forecasts you should still get a loan.