American Express Global SME Pulse

UK Small Businesses Expect Profits To Increase 4% Year-On-Year

UK Small Businesses Expect Profits To Increase 4% Year-On-Year

50% UK small businesses expect their profits to increase 4% year-on-year, according to a global study of 3,200 small firms. The American Express Global SME Pulse has revealed that a majority of respondents are generally optimistic about the world economy over the next 12 months, with 14% of British-based businesses look forward to revenue growth of at least 8% over the same period. In terms of profitability, 57% of UK small enterprises are forecasting a net profit of 4% per annum over the next three years, while 22% forecast net profit in excess of 8% over the same period. When it came to priority areas of investment for UK respondents, 79% said reacting quickly to changing business demands was their biggest, 63% said it was applying the latest technology, while 60% said it was developing ... »