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SMEs to be boosted by banking rise

Date Added: 19/04/2011  

Small to medium-sized enterprises are set to receive a boost as a result of the expansion of the banking sector.

This is the view of Richard Hoar, director at financial staffing specialist Goodman Masson, who claimed that around 15,000 are to be given jobs in the financial services industry over the course of the next three years.

In an interview with Recruiter, he explained that there has been a gradual build up of mid-market businesses.

"Some of the banks in the UK used to work in the UK mid-market and a lot of the mid-market business has disappeared from the large banks," said Mr Hoar.

Mark Cameron, chief operating officer at Astbury Marsden, added that firms based in the City are confident about their prospects as the British economy continues to recover from the recession.

But Brendan Barber, general secretary of the Trades Union Congress, recently claimed many firms are still going to struggle during 2011.

Posted by Miles Pritchard 

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