Small Business Optimism Continues to Rise
Over half (52%) of small firms plan to invest in their company as trading conditions improve
Small and mid-sized business optimism continues to build as 52% of company owners declare plans to invest in their firms thanks to improved trading conditions. In addition, 34% believe that their companies will grow in 2015, according to the most recent Close Brothers Business Barometer (CBBB).
The report revealed that alongside investment and growth predictions, companies plan to seek growth funding and increase headcount with four out of 10 enterprises planning to seek funding to facilitate expansion and 47% hoping to recruit additional staff.
The CBBB, which is a quarterly survey conducted by financial group Close Brothers Asset Finance, (CBAF) demonstrates the opinions of small business owners and senior management across the UK.
The CBAF’s CEO, Mike Randall, commented on the latest report:
“The UK economy has turned a corner, with the European Commission telling us that it is expected to grow by 2.4% over the course of this year.
“Our survey results suggest that over half of small and medium enterprises are now feeling confident to make strategic decisions about growth.”
Randall added that access to finance is key to small business success:
“One of the biggest barriers to growth is accessing appropriate funding. It is essential that businesses are able to access the right type of finance at the right time for them and they can only do this if awareness of the full spectrum of financial options continues to rise.”
For more information on finance options for your small business, including guides to alternative funding routes, take a look at our sister site’s raising finance section here.