70% of small London businesses are expecting to grow in 2015

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70% of small London businesses are expecting to grow in 2015

According to the FSB's London Small Business Index, 70% of small businesses in the capital are expecting to grow in 2015.

The report shows that hiring, investing and export all remain strong. 

Employment has been rising and is expected to increase even further in the early part of 2015, with one in six businesses looking to increase their number of employees.

The main areas of business the growth is predicted for is IT and computer services, while the largest gains in confidence were recorded in transport, hospitality and health care sectors. 

The mains issues facing small businesses are said to be consumer demand and availability.

Steve Warwick, London Chair of the Federation of Small Businesses, said:

“Given the economic uncertainty over the past few months, small firms are showing remarkable resilience and confidence. They want to grow, hire more staff, and invest in their businesses. However, we need to see a fully focussed Mayor, GLA and LEP working in close proximity in 2015 to stimulate this demand.”
Chair of the Federation of Small Businesses Policy, Sue Terpilowski OBE and  Christian Mouysset, the founder of a chain of heathly food shops, joined Wake Up London to discuss this issue. They explain the difficulties facing "teenage businesses", which refers to those who have grown beyond being a start-up. Mr Mouysset also discusess problems getting access to finance. 

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