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British GDP: What Q2 Findings Signal for SMEs
Lee Murphy, owner of Pandle, says:
“With the release of the UK’s Q2 GDP results this week, many SMEs are finding themselves in uncertain times. Recent political and environmental changes – like the 2017 General Election and increasingly uncertain plans surrounding Brexit – are sure to impact the country’s value, continuing into Q3 and potentially even Q4.”
“In terms of how Q2’s results will affect SMEs and entrepreneurs looking for their next moves, it’s important to remember that small businesses make up a significant amount of the British economy, and therefore have an important voice in affecting the movement of GDP. Actions like hiring more staff, expanding operations or increasing pay for existing employees all point to continued investment in British resources, and will help boost GDP into the next quarter.”
“There has recently been a lot of speculation about the addition of monthly statistics to quarterly reporting – while this may be a helpful supplement to the existing framework, it’s important that the data provided continues to hold the same weight and validity as quarterly reports. Otherwise, SMEs risk falling victim to over analysing the information provided. It’s important to continue working closely with your accountant to ensure you’re able to see the wood through the trees with matters like this.”
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