smallbusiness.co.uk: Helping your business think big

Email a Friend

Small companies look forward to revenue boost
Small companies are optimistic about sales this year

Almost half of small businesses expect their turnover to increase in 2016, research finds. 

According to a study by alternative SME lender Fleximize, just one in ten (10 per cent) believe the financial health of their companies is ‘poor’ or ‘very poor’, just over one in three (35 per cent) describe it as ‘good’, and 4 per cent say it is ‘excellent’.

This level of optimism helps explain why 49 per cent expect their companies' monthly revenue to increase over the next 12 months, compared to just 16 per cent who anticipate it to fall.

However the findings, based on 129 business owners, reveal that 23 per cent of business owners are looking to secure more funding over the next year than they needed during the past 12 months, and only 8 per cent think they will need less credit.

Max Chmyshuk, founder and managing partner at Fleximize says, 'Banks are turning down around one in five credit applications from small businesses, and just under one in ten from medium-sized enterprises, and this is fuelling demand for alternative sources of finance.

'Indeed, this year the UK alternative lending market has been providing over £211 million of credit to businesses and individuals every month, more than double the average monthly figure for 2014.'

Further reading on sales

See also: Inland Revenue to crack down on small businesses

Related topics: Managing cashflow

Previous article

Employees want their company to introduce more eco-friendly policies

Next article

Independent retailers missing digital presence this Christmas

Post a comment

Related

News | Management

Boost to help small businesses trade online

News | Opportunities

Funding boost for small business

News | Opportunities

Boost for small business in pre-Budget report

News | Law

Employment law boost for small firms

Small Business Offers

More from Small Business

Starting a Business
Brexporting: From price points to pallet delivery 

Brexporting: From price points to pallet delivery 

How might a Brexit affect your logistical operations and international trade? Here, we look at...  

Financing a Business
Why small business lending alternatives are the next big thing 

Why small business lending alternatives are the next big thing 

Here are a few of the biggest drivers behind the slowdown in small business lending...  

Running a Business
4 ways to keep calm in a crisis

4 ways to keep calm in a crisis

Owning your own company can be a stressful business. ...  

Blog
Small businesses and courtesy in the digital age 

Small businesses and courtesy in the digital age 

In the latest in his series of courtesy in business, David Cliff examines the downside...