Investec: Leading UK Entrepreneurs to Increase Headcount in 2011
Investec plans to lend in excess of £1 billion as leading UK entrepreneurs look to increase their headcount by as much as 20% over the next year.
- (1888PressRelease) February 16, 2011 - Some two thirds (66%) of leading entrepreneurs interviewed in November 20101 by Investec Specialist Private Bank ('Investec') said that they intend to increase the number of people they employ in 2011, with 6% expecting to see their headcount rise by over 20%. Only 12% anticipate that the number of people employed in their UK businesses will fall this year.
The below table compares the percentage change in headcount employed by entrepreneurs over the next 12 months in the first column. With the percentage of leading entrepreneurs interviewed who expect the headcount in their UK businesses to change by this amount in 2011 in the second column.
Increase by over 20% 6%
Increase by between 16% and 20% 15%
Increase by between 11% and 15% 6%
Increase by up to 10% 39%
Remain the same 21%
Decrease 12%
Ed Cottrell, Investec Specialist Private Bank said: "We are not surprised by these findings because our research reveals that of the leading entrepreneurs we interviewed, 56% expect the UK economy to improve over the next 12 months, and only 19% expect it to deteriorate. This helps explain why 44% plan to launch new ventures in the UK during 2011."
Given the expansionary plans of many leading entrepreneurs, Investec is looking to lend in excess of £1 billion over the next 12 months to people who have a strong track record in their sphere of business. This is more than the bank lent in 2010 or 2009.
Investec works with successful entrepreneurs, management teams and private equity houses to provide finance of typically between £5 million and £30 million to UK mid-market enterprises.
About the research
137 highly successful entrepreneurs with interests in one or more businesses with turnover of at least £1 million in annual revenues from their UK business interests who are either clients of Investec Specialist Private Bank or members of EO took part in the survey during November 2010. The survey was conducted online and it was anonymous.
Investec Specialist Private Bank has developed a real affinity with the entrepreneurial class and our experience places us right at the heart of this unique business community. We have created an environment that helps make things happen: propelled by a successful track record and market-leading expertise.
Our areas of specialisation include Structured Property Finance, Banking Services, Specialised Lending, Wealth Management, Trust and Fiduciary services, and Growth & Acquisition Finance.
Investec Specialist Private Bank is a division of Investec Bank plc, 2 Gresham St, London, EC2V 7QP. Reg. no. 489604. Authorised and regulated by the Financial Services Authority. A member of the London Stock Exchange.
This press release is issued on behalf of Investec Bank plc. Registered address: 2 Gresham Street, London, EC2V 7QP. (Reg No. 489604)
To find out more about Investec Specialist Private Bank's range of products and services, please log onto http://www.investecspb.co.uk/
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