Figures published this week show that the national employment rate of 76.1% is the highest since records began in 1971. The number of unemployed has also fallen to 1.34 million, putting the unemployment rate below 4% for the first time since 1975. Given the uncertainty surrounding the outcome of the Brexit negotiations, these statistics are surprising.
It is possible that UK workers replacing Europeans who have returned home are responsible for these improved figures. Or maybe they simply reflect the resilience of the UK labour market and the government’s pro-business policies? Either way, they show that business owners are keen to implement expansion plans that previously they may have delayed, or are now growing their business to take advantage of an upturn in their market.
Expanding the workforce may not be the only step a business needs to take. Now could be the time to take on new or enlarged premises, or to open discussions with their landlord to extend their current lease. The conversion of office and manufacturing space into flats and houses means that commercial property has become scarce, so businesses may need to act quickly.
As an independent local business Bretherton Law have been serving people and businesses in Hertfordshire for over 50 years. If you are buying or selling business premises, looking to lease a new property, or subject to a rent review our experienced Commercial Property team will give you honest, professional advice. Contact Osman Dervish on 01727 869293, or use the contact form below.