UK Small Businesses Aren’t Ready for Growth
42% of UK small firms believe their IT systems may be unable to cope with a bigger business model
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.
Malcolm Fox, vice president of product marketing at Epicor, said:
“Although the majority of businesses intend to grow in 2016, it’s clear that there are significant concerns with regard to businesses ability to deal with growth.
“These concerns are not altogether unfounded, as our research shows even when businesses plan to grow, this growth can still surprise them; putting unexpected pressures on the organisation.”