Businesses urged to consider Much Wenlock for expansion

Charis Denham, of Madeleys Chartered Surveyors

Businesses in Shropshire looking to expand are being urged to think of Much Wenlock as they grow.

According to data from online lending platform Fundbird, over a third of small and medium sized enterprises in the UK are trying to secure funding in order to fuel expansion and growth.

And Charis Denham, of Madeleys Chartered Surveyors, said it would be great to see businesses heading to Much Wenlock.

She said: “As well as the data about expansion it has also been announced that the number of businesses in the UK has hit a new record high, with SMEs accounting for almost half of generated turnover.

“Many of the businesses in Much Wenlock are small to medium enterprises and we always welcome new additions to the area.

“As chartered surveyors we deal with commercial sales and lettings and it is great to see businesses expanding and new businesses arriving to fill units.

“We currently have a recently renovated sales and office unit available of Stretton Road, which offers flexible business space, parking and good access to the major road network.

“The unit is available immediately and we are looking forward to seeing a new or expanding business take up that space.”

The data released by Fundbird also shows that in spite of recent concerns raised over the impact of late payments on small business growth, only 21 per cent of the 1000 businesses surveyed cited cash flow problems as the reason for seeking investment.

“Shropshire is a thriving county when it comes to businesses and we have hundreds of rural businesses that are growing year on year as well,” added Mrs Denham.

“The business community of Much Wenlock is a great one to be part of and we are extremely pleased to be based here.”

Government figures published this month (October 2015) put the number of private sector firms in the UK at 5.4million.

Breaking this down by business size reveals that small and medium-sized businesses account for almost half of generated turnover – and three fifths of all people employed.

Small businesses, those employing less than 50 people, unsurprisingly make up the vast majority of the 5.4 million figure: the sector accounts for 99.3 per cent of all businesses in the country.

The Business Population Estimate from the Department for Business, Innovation & Skills estimated that small firms generate over £1 trillion in turnover, or about a third of total business turnover.