Businesses Ignore ‘Doom And Gloom Experts’ To Go For Growth

Just 19% of small businesses who operate online are pessimistic about their future

Businesses Ignore ‘Doom And Gloom Experts’ To Go For Growth

UK small businesses are ignoring ‘doom and gloom experts’ and focusing on growing sales in the coming months, according to a report by eBay.

Their survey of 416 small firms who hold an eBay account revealed that 46% are optimistic about their future growth prospects, compared to just 19% who are pessimistic.

Despite months of economic uncertainty, it appears that respondents are growing tired of negative commentary concerning the UK economy – with 52% fed up with news stories that don’t affect their business.

Indeed, business owners see themselves as ‘masters of their own destiny’ with 72% believing it’ll be their own actions that make or break their enterprise.

When it comes to other potential risks that could influence their growth, a reduction in consumer spending (41%) topped the list, followed by the potential impact of Brexit (36%), an unknown political event (28%), a weak pound increasing import costs (22%), and a dip in broadband quality (12%).

Dieter Newell, senior director of seller growth at eBay in the UK said:

“Britain’s online enterprises are showing an impressive resilience in the face of economic uncertainty, with a quarter telling us they have become better prepared for risks in the past year.”

“The ability to trade globally will be key to the continued success of the UK’s small businesses over the rest of 2017 and beyond.

“That said, a number of risks remain, with a weak pound and consumer confidence chief among the concerns expressed by the businesses we’ve spoken to.”

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