Skills shortage hits small firms

The growth of the British economy is being restricted by a skills shortage, according to almost two-thirds of British exporters, who took part in the latest DHL Quarterly Export Indicator. The report said smaller companies were most exposed to the skills shortage.

"Low levels of unemployment coupled with the healthy state of the economy means that a lot of companies are finding that there is no longer enough skilled labour to go around," said Nick Butcher, managing director of DHL International (UK).

The report also showed support for a single currencywas growing. Sixty- two per cent of exporterssaid they would consider British participation in a single currency helpful.

Whilst China and Russia were said to be the most difficult marketsto break into, those who had managed to initiate trade with those countries expected to increase sales.