A new report suggests that a majority of SMEs in the UK expect to grow over the next three years, according to a new report.
Market analyst MarketFinance says that 70% of the 2000 SMEs polled for a recent report are planning to ramp up business investment, with a quarter intending to hire staff and upgrade equipment or machinery.
Some 81% of SMEs plan to invest in sustainability as part of their growth strategy, while a third are exploring global markets or considering merger and acquisition activity within a year.
MarketFinance also says that half of SMEs (48%) expect their turnover to stabilise or to increase over the next 12 months.
‘It’s clear that the business environment has shifted and SMEs are looking ahead with a quietly confident and cautiously optimistic view,’ said Anil Stocker, CEO at MarketFinance. ‘UK businesses intend to ramp up growth through domestic and international expansion, digital transformation and even M&A activity.’
This story uses material from MarketFinance; with editorial changes made by Materials Today.
