Two-thirds of small and medium businesses are confident about the economy heading into 2015, while just 4% are bracing themselves for possible turbulence ahead.
Two-thirds of small and medium businesses are confident about the economy heading into 2015, while just 4% are bracing themselves for possible turbulence ahead.
Two-thirds of small and medium businesses are confident about the economy heading into 2015, while just 4% are bracing themselves for possible turbulence ahead.
That’s according to the latest research by Barclays, which also shows that 22% of entrepreneurs and business owners think conditions will stay about the same as this year.
Turning to their own business’ fortunes, small businesses with under 10 employees were most confident about next year, on average expecting 16% growth.
Sole traders and businesses with more than 50 staff were the most conservative, although they also expect growth, this time average 11%.
Older businesses founded before 1990 were the least optimistic, with 37% expected sales to flatline or go into decline in the New Year.
Rebecca McNeil, head of SME lending at Barclays said: “It has been a significant year for UK small businesses, with many putting the 2008-2009 recession firmly behind them. Our data shows small business customers experienced an income rise of nearly 8%, the strongest annual growth rate since 2000.
“Confidence has returned to the small business market and we are seeing real optimism for future growth well into 2015, with over two thirds of small businesses forecasting a turnover increase within the next year.”
Barclays has launched regional ‘growth clinics’, a series of networking opportunities and events aimed at smaller businesses. Click the link below to find out more.
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