A report into the situation for small and medium-sized enterprises (SMEs) in the UK heading into 2022 has revealed that the majority are positive about the prospects for growth.
This report was published by MarketFinance, and it surveyed 2,000 UK SMEs. The results show that 50% of them feel they will see an upturn in demand among customers for their products or services over the next year, while 63% said they are sure that they will be able to expand during the upcoming three years.
The majority of the firms that took part in the survey also stated that they were anticipating their turnovers would go up during 2022. Accountants in Goole and other parts of the country can help smaller businesses plan for future expansion.
The CEO of MarketFinance, Anil Stocker, told Digit that the report showed a change in the mood among businesses after the pandemic, with more now feeling positive about the future.
A further 70% of the companies surveyed said they intended to invest more into their businesses during 2022, with one quarter planning to improve equipment and hire more employees, while one third are looking at global expansion and mergers and acquisitions.
Stocker went on to say:
“UK businesses intend to ramp up growth through domestic and international expansion, digital transformation and even M&A activity. But as they reset their post-pandemic goals for a post-pandemic, they’ll need to be confident of their funding base.”
Most firms cited borrowing as being at the heart of their strategies for growth.