Made Simple Group

Battle For Customers Intensifies As Number Of Businesses Rises 50% in Five Years

Battle For Customers Intensifies As Number Of Businesses Rises 50% in Five Years

UK small enterprises are becoming increasingly worried about their ability to attract new customers as the business battleground intensifies, according to a report by MadeSimple. Referencing figures released by Companies House, the survey reveals that 598,000 new businesses were formed in 2015, compared to just 389,000 in 2010 – an increase of 50% in just five years. The flooding of new competitors into the market appears to have taken its toll on existing enterprises, with many now concerned there isn’t enough custom to go around. MadeSimple’s survey of 1,300 small enterprises reports that 54% of respondents said gaining new customers was one of the main factors “keeping them up at night”, while 49% cited keeping track of the finance and cashflow of the business as a “major worry”. Time m... »