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| SME turnover 'hits pre-recession levels' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 28 October 2010 00:00 |
 Small and medium-sized enterprises (SMEs) offering roles such as finance jobs in London are showing clear signs of a recovery following the global economic downturn, new figures have shown.According to research conducted by Bibby Financial Services, turnover among 3,000 SMEs in the City of London and across the rest of the UK has reached pre-recession levels, which indicates that profitability is once again rising in the sector. The organisation's Business Factors Index - which tracks the performance of companies' turnover in three-month timeframes - found that during the third quarter of 2010, this hit its highest level since the fourth quarter of 2007. Edward Rimmer, UK chief executive at Bibby, commented that these findings reflect "September's British Chambers of Commerce Economic Forecast, which predicts UK gross domestic product (GDP) growth of 1.7 per cent in 2010". This follows on from the announcement earlier this week that Britain's GDP expanded by 0.8 per cent in the third quarter of the year. Posted by Mary King 
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