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Small & Medium Sized Enterprises (SMEs) expect to create 470,000 full or part time jobs over the next year according to research by finance company GE Capital.

The survey took on board the thoughts of over 1,000 businesses in Europe – and just short of half of the companies based in the UK said they were ‘optimistic’ that their particular sector would see growth in the next year.

Such growth would allow their companies to expand and take on thousands of new staff in the near future.

Encouraging though the nigh-on half million new job figure might seem for the UK, it still leaves us behind both France and Germany in terms of expected job creation by SMEs in the next twelve months. SMEs in France forecast that they will add around 630,000 full and part time jobs in the next year and, in Germany, the job creation forecast by SMEs is more than double that of the UK at over 970,000 jobs.

Chief Executive of GE Capital in the United Kingdom, John Jenkins, said of the job predictions: “Although the picture for UK job creation is positive, there are noticeable variations depending on the size of businesses and the region and sector in which it operates, highlighting the kaleidoscopic conditions experienced by the UK SMEs. It is clear that the smallest businesses, which after all make up the backbone of the UK economy, may need further support to boost business confidence and realise their potential.”

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