Small Business Expansion Plans ‘At A High’
FSB survey finds increasing confidence among UK’s small businesses
Two-thirds (67%) of small businesses are targeting growth in the next 12 months, according to new a survey by the Federation of Small Businesses (FSB).
The ‘Voice of Small Business’ survey polled 8,737 small firms and found that their plans for expansion are at an all-time high, indicating a return in their confidence. Businesses which displayed the most ambition in terms of growth rates included those in the water, energy, environmental, digital and telecoms sectors.
FSB members aged 35 or under also reported growth in 2013, with 43% saying they had seen increased profits. Seven in ten of those polled said they had increased staff wages in the last 12 months.
The FSB said the survey results will be used to inform policymakers about the realities of running a small business and how doing business can be made easier. The business organisation wants Government to create the right environment for further growth, focusing on enabling small business to take on new staff, access finance and encouraging export and investment in products and services.
John Allan, National Chairman, Federation of Small Businesses, said:
“Our latest survey shows the economic environment is improving and confidence is growing among FSB members. We want to see Government support this momentum by ensuring viable businesses can access finance, and encourage them to export and invest in their products and services.”