More than two-thirds of UK businesses expect to increase staff numbers as firms step up borrowing to fund technology, new products and expansion, according to an HSBC UK survey published on 12 October 2026.
The YouGov survey of 1,029 leaders at UK businesses from start-up onwards found that, of those with annual turnover above £3 million, 68% expect headcount to rise, most commonly by 6% to 15%. Some 56% took on new borrowing or credit lines in the past 12 months, compared with 28% in 2025.
Among businesses planning to grow in the next year, 87% are confident they will achieve that growth, up from 80% last year. Just over half (56%) of respondents said they are optimistic about the UK economy over the next one to two years.
Digital technology, research and development, new product launches and expansion into new markets are the planned uses of finance most often cited. The investment plans come as 82% identify reducing costs as a strategic priority and 79% prioritise cashflow and liquidity.
Of firms targeting growth of more than 20%, 84% expect to increase headcount and, of those, 55% anticipate workforce growth of between 20% and 50%. Upskilling and training existing employees is a priority for 56%, while 49% plan to hire experienced or specialist staff.
Among firms targeting growth above 20%, 71% took on new borrowing or credit lines in the past year, while 93% are comfortable borrowing to support growth. The survey says they are also more likely than the wider business population to use finance for mergers and acquisitions and to consider sustainable-finance solutions, capital markets and government or grant funding.
On choosing a borrowing provider, reputation, financial strength and security influence 78% of businesses; 76% cite relationship expertise and advice; and 75% point to transparent pricing and fair terms. One third say pricing could be a deal-breaker, while 41% would consider moving provider if their relationship manager did not meet expectations.
James Cundy, Head of Mid-Market Corporates at HSBC UK, said: “Our research shows that for many UK businesses investing for growth remains a top priority. More than two-thirds expect to increase headcount, while borrowing is helping firms fund technology, new products and expansion. Cost pressures and uncertainty has not disappeared, but ambitious businesses are moving ahead regardless.”
“For HSBC UK, this means continuing to back viable growth plans with the finance, sector expertise and timely decisions businesses need. Through our AI & Productivity Financing Initiative, eligible businesses can access funding on commercial terms to invest in technology, skills, systems and other future-ready capabilities they need to enhance productivity and support long-term growth.”
HSBC UK’s second annual Financing for Growth report is due to be released on 21 October. The survey was conducted online between 30 July and 12 August 2026.
