business Growth Increases

UK Small Businesses Aren’t Ready for Growth

UK Small Businesses Aren’t Ready for Growth

UK small businesses aren’t prepared to deal with growth despite having an intention to grow in 2016, according to a report by Epicor Software. The survey of over 1,800 business leaders from 14 countries found that, while 69% of UK small firms expect to grow in 2016, only 11% of small businesses claim this growth is in line with their plans. 48% of business owners said they worry that business growth puts excessive pressure on operations and damage quality and customer satisfaction. Inadequate IT systems are thought to be one of the main concerns, with 42% of business owners believing their own systems would be unable to cope with bigger business models. 45% of the businesses surveyed also said they don’t feeling personally prepared for the challenge of managing a larger customer base. Malc... »

Number of Small Businesses Forecasting Growth Increases

38% of UK small enterprises believe they will expand in the next three months The number of small firms predicting significant growth has increased by 13% since the end of 2014, with 38% feeling confident that they will experience expansion in the next three months, according to Hitachi Capital’s Business Barometer. Manufacturing is the most confident industry with 43% of small firms in the sector predicting expansion and growth, which is an increase of 8% from Q4 2014 figures and London came out top in regards to regions at 46% (up from 41%). The report, which featured 1,000 UK small businesses, also unveiled construction as the least positive industry, with 24% stating they will have to decrease in size and possibly close as 2015 progresses (an increase of 11% from Q4’s figure). And smal... »