Smaller firms set to increase capital spending

Small and medium-sized firms in the UK are set to invest over £45 billion on upgrading equipment and increasing efficiency according to a survey by GE Capital. This represents a 23% increase on investment plans set out in a previous survey in the first quarter of 2012. The survey also claimed that losses made by UK firms due to out-of-date or inefficient equipment were significantly higher than in other European countries. John Jenkins, chief executive of GE Capital UK, said: “After a period of under-investment brought on by broader economic uncertainty, it’s good to see UK businesses once again looking to increase investment in capital expenditure and creating new jobs.”

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