Manchester SMEs may boost economy by billions
The SMEs of Manchester could inject around £14 billion into the regional economy by the end of the decade.
The prediction about this potential impact in the Manchester region was made by the Centre for Economics and Business Research (CEBR) and the Hampshire Trust Bank (HTB). The collaborative research suggested that Manchester SMEs are poised to up their economic contribution by about 15%. If £14 billion is added to the region by 2020, this could lead to marketing services in Manchester doing much more business.
The research found that SME growth in Manchester could be stronger than that likely to be achieved in other cities in the UK. The chief executive for HTB, Mark Sismey-Durrant, said:
Sismey-Durrant argued that SMEs are important in relation to the overall performance of the British economy. He contended that these businesses would be responsible for over a quarter of total corporate contribution within four years.
Economist Nina Skero, who works for CEBR, was upbeat about the research findings. She explained that it was heartening to see evidence of SME growth outside London. Furthermore, she suggested that the study could help to prompt business leaders to invest more in growth-related strategies.
The prediction about this potential impact in the Manchester region was made by the Centre for Economics and Business Research (CEBR) and the Hampshire Trust Bank (HTB). The collaborative research suggested that Manchester SMEs are poised to up their economic contribution by about 15%. If £14 billion is added to the region by 2020, this could lead to marketing services in Manchester doing much more business.
The research found that SME growth in Manchester could be stronger than that likely to be achieved in other cities in the UK. The chief executive for HTB, Mark Sismey-Durrant, said:
"Our research with CEBR should be a source of optimism for the government and for employers as the strong future growth predicted suggests significant opportunity for investors, business owners and their employees.”
Sismey-Durrant argued that SMEs are important in relation to the overall performance of the British economy. He contended that these businesses would be responsible for over a quarter of total corporate contribution within four years.
Economist Nina Skero, who works for CEBR, was upbeat about the research findings. She explained that it was heartening to see evidence of SME growth outside London. Furthermore, she suggested that the study could help to prompt business leaders to invest more in growth-related strategies.