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In 2009, thousands of businesses across Hampshire and the Isle of Wight have had to rationalise staffing levels, cut costs, improve customer service, reduce waste, find new markets and alternative suppliers to survive. However almost one in three SMEs are preparing for better times by training their staff and over half (53%) expect their turnover to increase in the next twelve months, according to recent Business Link research.

As the economy prepares its path to recovery, SME turnover and recruitment expectations are rising in Hampshire and the Isle of Wight. Whilst we can see the growing signs of an upturn for businesses and the continued challenges, such as rising energy and raw material prices, which affects cash flow pressures, there is business optimism for the Hampshire economy in 2010.

Across the South East, the business and financial sector is the most optimistic with 47% expecting their market to improve and 20% of that sector expecting to take on staff, this equates to 170,000 businesses looking to recruit in 2010.

The research identified common characteristics among those businesses which are expecting their turnover to expand in the next year, these included:

Happy to use business support (61%)

Use planning tools, either a business plan, sales & marketing or training plans (77%)

Have a website (78%)

John Harrocks, Chief Executive, North Hampshire Chamber & Industry, commented on the findings, ‘Chamber of Commerce members in North Hampshire are expressing a cautiously optimistic outlook for 2010 with positive signs of recovery in parts of manufacturing, particularly those that export, and across key service sectors for the region. They welcome and are likely to take full advantage of the business support services available.’