It’s been an upbeat news week for SMEs. Economic forecasts suggest that there’s a lot to be positive about, with the amount of funding that SMEs will be able to access being on the rise, and in the UK alone hundreds of thousands of entrepreneurs are starting up their own companies.
Joley Kirby, SME Procurement Manager, Fujitsu UK & Ireland, @FujitsuSMELady, shares the stories of the week below.
- According to StartUp Britain, almost 400, 000 new businesses have been registered in the UK so far this year. This puts the country on course for half a million new firms in 2013, which is an excellent growth rate for the UK when you consider that SMEs are pegged to be economic lifeblood of the country in years to come.
- Keeping with the positive outlook, a new report from Deloitte reveals that entrepreneurs are optimistic enough to start spending their hard earned cash to enable growth. In fact, the report reveals that as much as 80% of entrepreneurs believe their businesses will grow by at least 10% over the next twelve months. This is the highest number since the survey began in 2008, and perhaps the reason why more than half of these business owners (56%) said that were confident enough to start using the money they’ve saved during the economic downturn to start financing growth.
- Last but not least, based on statements made by Bank of England around its Credit Conditions Survey, SMEs area also set to start seeing the benefits from improved loan availability and better interest rates in the near future. The survey found that credit available to small businesses in the final quarter of the year would be the highest since the second quarter of 2010 – which is excellent news for those looking for investment to fund growth in the next twelve months.
What was the key news for your business this week? And are you feeling as positive as the forecasts suggest you should be? Let us know by commenting below, or engaging with us @Fujitsu_UK