SMALLER companies are forecasting good times ahead after the General Election result, according to new survey figures.
The 7 May election, which saw the Conservative party win a majority, was seen as a positive by 74 per cent of small and mid-sized firms, accounting firm BDO and the Quoted Companies Alliance (QCA) said today.
The government’s pro-business policies were the main reason for the climb in optimism, 38 per cent of companies said.
Meanwhile, 26 per cent said the biggest boost was from greater economic and political certainty after many had expected a hung parliament in the run up to the vote.
This positive sentiment has also translated into an increase in expectations for turnover growth, up from an average 14 per cent at the beginning of the year to 17.4 per cent.
“Growth is back on the agenda of confident companies,” said Tim Ward, chief executive of the QCA.
He added: “Businesses are more optimistic about the UK economy, their own prospects and seeking opportunities in overseas markets; they are looking to increase staff numbers as a result. This will provide a solid foundation for the rest of the year at least.”