Another week and the future for SMEs is setting its course. This week has revealed some interesting facts in the SME landscape, with small businesses being smart with their savings but a lack of government backing for start-ups hindering performance. Please see below a roundup of this week’s news:
- According to research by Hampshire Trust Bank, small businesses in London are soaring ahead of their regional counterparts, holding more than half a million pounds in business savings accounts. SMEs in the west midlands were also found to be some of the UK’s top savers, holding 73% of business funds in savings with the study revealing the vast differences between regional saving in businesses.
- Data experts at Spend Network have conducted a study revealing that start-up companies received less than 3% of government spending in their first 5 years of business and less than 0.5% to those in their first two years. With such a small amount of government funding, businesses are deterring from bidding to start work and are becoming hindered if already in work.
- Research has shown that small businesses are starting to become more confident regarding the future of their businesses. The research conducted by YouGov and the Centre for Economics and Business Research (CBR) revealed almost half of SME owners claim they do not have any serious business concerns. Finding skilled staff has also been a common anxiety for small businesses; despite this 33% of SMEs are planning on recruiting within the next year
Let us know your thoughts on this week’s stories. Are you saving business funds efficiently? How is government funding affecting your business? Do you feel confident for the future of your organisation? Contact us by commenting below or tweeting @Fujitsu_UK or @FujitsuSMELady.