As we settle into 2011 the question on everyone's lips is, will we fully emerge from the economic difficulties of the last two years?
From a recruitment point of view, Pure Resourcing Solutions has seen a positive uplift in recruitment across nearly all our sectors – Accountancy, Financial Services, Office and HR. Feedback from companies is that having weathered the storm of 2010 they have renewed optimism, albeit cautious optimism, for 2011.
A new report from Risk Disk -a credit reference agency - in which key elements relating to the UK business environment were analysed, gives a good overview of where we are now, allowing us to better forecast for the future.
They report 2010 was about emerging from survival through the difficulties of 2008 and 2009 and beginning to build again in a somewhat improving economy. The comparisons of the 'adverse' business statistics between 2010 and 2009 highlight this improvement:
- CCJs were down 26%
- Administration orders were down 34%
- Winding-up petitions were down 21%
- Liquidations were down 9%
- Receiverships were down 35%
- Dissolutions were down 33%.*
These numbers firmly suggest the worst impact of the recession on business viability is behind us. From our own experience Pure has seen a growth of 32% on last year's figures. Other statistics from the report also make interesting reading:
- Voluntary arrangements up 9%. Companies not failing but continuing because those involved can see the light at the end of the tunnel?
- New Incorporations up 11%.
- Count of Trading companies was up 2% with a tiny decline in Non-trading.*
These are all key metrics which support the argument that things have improved. Experience tells us that, providing overall demand is broadly unaffected, those businesses that survive a recession have a new opportunity to grow by filling the gap left by those no longer trading.