Firms buoyant for New Year as more than half look to expand

Peterborough Chamber of Commerce chief executive John Bridge.
Peterborough Chamber of Commerce chief executive John Bridge.
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Many enterprising companies in Peterborough are starting the new year in a buoyant state and planning for growth and recruitment.

The upbeat verdict on the state of the city economy has come from a new poll that shows that some 69 per cent of small and medium sized firms are are feeling confident about their business for the new year.

In addition, the survey, carried out by business financing group Liberis and OnePoll, show that 51 per cent expect their businesses to grow.

However, about 24 per cent have admitted they expect their business to decline.

Twenty six per cent of the firms polled say they will be looking for business funding next year and 42 per cent of those plan to approach alternative finance providers for it rather than seek bank funding.

Liberis chief executive Paul Mildenstein said: “It has been a tough few years, so it’s heartening to hear the majority of businesses are feeling positive about 2015. But it still looks tough for a considerable number of companies.

“Getting working capital has been a struggle too, which has made it even more difficult for businesses to operate, so it’s encouraging that those who need funding feel confident they will get it.”

Chief executive of Peterborough Chamber of Commerce John Bridge said: “I am not surprised by the findings. The Peterborough economy is very healthy with many firms looking to grow and recruit new staff.”

In October last year, there were 33 per cent fewer jobseekers in Peterborough than in January, falling from 4,553 to 3,018 in September.

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