Privilege Promotions Celebrate UK Economic Growth

In a recent report by the Office of National Statistics (ONS) the rate of the UK’s economic growth has been confirmed at 0.8 per cent in the first three months of 2014.

The ONS has confirmed the rise is largely due to an increase in consumer spending and the growth of business investments rising to 2.7 per cent in the first three months of this year. These new statistics place the UK ahead of other countries as the current fastest growing western economy.

Compared to figures obtained a year ago, the economy has grown 3.1 per cent. Although the current state is still 0.6 per cent lower than the economic peak in 2008, it is many experts belief that this figure will be surpassed by July this year and that the economy will sustain a decent growth for at least, the near future.

Much of the economic turnaround can be accredited to the increase in small businesses currently trading in the UK. Small businesses have been responsible for providing more job opportunities to vast numbers of people who otherwise had trouble finding employment. New job opportunities not only helped small businesses increase revenue through giving new talent a chance to grow and develop, they also helped relive the pressure felt by the government and benefit providers, with less people than ever claiming jobseekers allowance as unemployment levels hit a five year low.

Consumers are also beginning to recognise the high levels of quality and service that small businesses can offer. By having the time and resources to dedicate to consumers small businesses can provide a more personalised approach to customer service, and both the businesses and the economy are reaping the rewards of this increase in profits.

Overall economic growth has been at its fastest level since 2013 with consumer spending packing the biggest punch. Consumer or household spending accounts almost two thirds of the UK’s economic expenditure, and the first quarter of 2014 saw this rise by 0.8 per cent. This rise in spending is great news for Privilege Promotions, an outsourced events marketing firm based in Leicester and their clients, who rely on Privilege Promotions’ sales teams to acquire customers through face to face marketing events on a daily basis.

The growing economy means that companies are seeing many more avenues for sales and an increase in consumer demand. With consumer spending at its highest for months, more companies are openly looking for new and innovative ways of selling their products and are approaching Privilege Promotions for help.

Privilege Promotions is an attractive prospect for businesses looking to explore new consumer possibilities. By offering a ‘no win, no fee’ policy Privilege Promotions’ services have very little risk attached to them as far as their clients are concerned, deeming the direct marketing firm as ‘recession proof’. This policy ensures their clients get the very best event marketing campaigns that deliver their product and message directly to the consumer. This means that even during tougher economic times, Privilege Promotions are still able to attract a new and diverse client base:

‘We’re really satisfied with the way the economy is moving. We’re lucky in some ways as what we do is always in demand - our clients will always be growing their customer base and always need a way to reach more customers - we are in a very stable industry,’ states, Will Ross, MD of Privilege Promotions.

By focusing intensely on providing event marketing solutions on their local area, Privilege Promotions are able to fully appreciate all possibilities within their region in order to build a strong foundation and wide array of clients. In terms of future growth, the firm are looking ahead at the possibilities of expanding throughout the Midlands, Derby, Northampton and even through to the Manchester area.