If you want to keep your business options open for a little longer you can reserve your unit for September now with Bucks Biz. We'll hold it for you on deposit, ready for you to move in on 1st September, or sooner if you decide you're ready ...
We understand that it's hard to make decisions when there's so much economic uncertainty around. However, the good news is that, despite Brexit and a pandemic, the British Chambers of Commerce (BCC) say the UK can look forward to economic recovery. However, there could be a few bumps along the road, despite record growth in the country's gross domestic product (GDP).
The BCC's latest economic forecast predicts UK GDP growth for 2021 of 6.8%, which would be the strongest it has been since official records began in 1949. Growth is expected to be strongest during the second and third quarters of 2021 with the UK economy returning to its pre-pandemic level in the first quarter of 2022. Growth for the year is projected at 5.1%.
Consumer spending is expected to be behind the economic upturn in 2021. As coronavirus restrictions ease and the vaccine rollout continues, fortunate consumers will want to spend some of the savings they have built up during lockdown because they couldn't socialise or travel. Realistically, of course, a lot of people will take a long time to recover from the financial impact of the pandemic.
Prospects for investment are strong, thanks to the anticipated boost to the economy when restrictions are reduced and the Chancellor's introduction of the super-deduction incentive. However, this could reduce dramatically in 2023 as the incentive ends and corporation tax increases, so now is a good time to look for financial backing and to invest in your business.
The catering and hospitality sectors are amongst the hardest hit by the pandemic and will take longer to recover. Bucks Biz is happy to offer flexible options to help those affected get back up to speed as quickly as possible.
On a more positive note, it's thought that manufacturing output will return to its pre-pandemic level by the third quarter of 2021. Unemployment is expected to reach 6.0%, which is lower than the figure following the 2008 recession. However, youth unemployment is expected to be more than 15% by the end of 2021, after the furlough scheme expires. If you're looking for your pick of a promising crop of young workers, now is the ideal time to take on new trainees.
The picture for exports to the European Union (EU) and other countries still isn't clear although figures have started to show signs of recovery in the second quarter of 2021. The government might well have to continue with added support for businesses facing the double impact of our departure from the EU and the pandemic.
For over 30 years the Bucks Biz team has supported local businesses with high quality and flexible business space solutions. For everything from offices to industrial units we have quality work spaces at affordable prices in strategically important locations.
We are expecting demand to be high, so speak with us to find out how to reserve your business unit for September.