According to the latest Federation of Small Businesses (FSB) index, 11pc of companies that were surveyed expanded their workforce over the last three months, marking the third consecutive quarter of job creation.
The accountancy firm PwC has found that “reshoring” could create up to 200,000 over the next decade, and boost the economy by 0.8pc – which equates to about £12bn by today’s values.
British companies with production plants and offices overseas are being driven back to the UK as the wage gap with China diminishes.
“Since the 1990s there has been a major trend in the UK and other advanced economies for businesses to offshore activities to lower cost emerging economies,” said John Hawksworth, chief economist at PwC.
“However, there are signs that the tide may be beginning to turn, with examples of reshoring back to the UK starting to crop in a range of different sectors, including advanced manufacturing, textiles and business support services.”
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