Hiring demand by small Firms is on rise

New Delhi: The job market doors are reopening. Including the IT and ITeS space, also the small firms in retail, banking and realty sectors are hiring in large numbers, which is opening up new business opportunities. Almost 10 percent of SMEs (small and medium enterprises) in India are planning to hire additional staff, according to a recent study by New York-based Access Markets International (AMI) Partners.

As reported by the Economic Times, the study reveals that the impact of the current economic downturn on local and regional economies is of greater concern to small businesses than to their medium business counterparts. These same small businesses were not as greatly affected by changes in the national and global economy as the mid-market firms. "A major reason for this is that most small businesses (84 percent) have only a single location, earn almost three-fourths of their revenues from local areas, and their operations are mainly confined to local territories," said Kalyan Banga, Research Analyst at AMI-Partners.