ECONOMY

SMEs had strong start to the year, says NatWest

Hannah Prevett
The Times
Sophie Milliken, founder of the marketing agency Moja, said she recognised the positive outlook for small and medium-sized businesses and was expecting to take on more staff soon
Sophie Milliken, founder of the marketing agency Moja, said she recognised the positive outlook for small and medium-sized businesses and was expecting to take on more staff soon
SUE TODD PHOTOGRAPHY 2022
Hannah Prevett
The Times

The owners of small and medium-sized businesses have had a strong first quarter of trading in 2024, a survey compiled by NatWest has found.

Companies offering services have done particularly well and March marks the fifth successive rise in new business, with respondents linking the increase to the start of new projects. Overall, the rate of output growth by small and medium-sized businesses in the first quarter of 2024 was the strongest since the same quarter last year.

The survey is based on the responses of 850 companies based in Britain as part of a purchasing managers’ index researched by S&P Global.

Sophie Milliken, the founder in February 2022 of Moja, a marketing agency based in Newcastle, said she recognised why the survey results were