Small businesses expect growth over the next 12 months

The research of 1,008 small and medium sized businesses (SMEs) senior decision makers, in the manufacturing, retail, leisure & hospitality and business services sectors in Britain, showed 50 per cent of those surveyed expect to see an increase in business turnover during the next 12 months.

Even better, 21 per cent thought their staff headcount would grow over the next year and just over half of the surveyed businesses thought salaries would increase. If there was ever a time to get your business up and running, it is now. 

However, there were certain precautions to take that were highlighted in the research.

1 in 5 businesses are not confident that they will be able to recruit the right staff over the coming 12 months, while 19 per cent were not confident that they have access to the digital skills their business needs to succeed. 

The research also highlighted that while small businesses are considering the short term success of their business, the long term succession plan is becoming a thing of the past with a staggering 71 per cent of those surveyed saying their businesses have no succession plan in place.

Check out our Smarta guides on How to recruit the right employee for your business and How to interview employees. With so many resources ready to welcome you with open arms, there’s nothing to stop you turning your idea into a great business.

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