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Small businesses expect growth in 2012

Jan 16 2012

Some 80 per cent of companies expect some growth in 2012

More than eight out of ten small company owners believe they will grow their enterprise over the next 12 months, research finds.

Some 14 per cent of firms are starting to trade internationally to generate growth, while six in ten (57 per cent) expect to increase their turnover, according to research of 1,000 small and medium-sized businesses (SMEs) from HSBC Commercial Bank.

One in five (20 per cent) are simply looking to keep up with the competition, and 17 per cent hope to power their business growth by investing in new equipment.

Jacques-Emmanuel Blanchet, head of commercial banking UK at HSBC says, ‘It is encouraging to see UK SMEs looking ahead to next year with optimism and a desire to grow their businesses, even to achieve market-leader status.’

In his New Year address, John Walker, national chairman of the Federation of Small Businesses expected some 'golden opportunities' for businesses in the year ahead, with the Olympics and the Queen's Jubilee offering opportunities for businesses to 'expand, diversify and benefit'.

However, he added that SMEs cannot solve the economic crisis alone and will need help. 'Job creation is going to be critical in 2012. Unemployment has risen continuously over the past year. And the number of people that are claiming Jobseekers Allowance has risen to 1.6 million – a continual rise over six months. This needs to stop.'

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