BUSINESS INSIGHTS REPORT: AT THE CROSSROADS

HOW THE UK’S SMES ARE PREPARING THEIR PATH TO RECOVERY AND GROWTH

SMEs are the lifeblood of our economy. In a debate that’s too often dominated by business giants, we wanted to hear what SMEs have made of the past two years and what shape their future is taking. We’ve put together this business insights report to reveal what’s next for business owners and how they’re planning to get there.

SMES FORGE AHEAD

The pandemic and Brexit have caused their fair share of anxieties and obstacles for SMEs across industries. Business owners have been resilient and made the most of the opportunities available. Now they’re focused on building back stronger from the crisis.

This month we surveyed 2,000 business owners across the country to find out how they’ve performed this year and what shape their next chapter is taking. The outlook seems to be cautiously optimistic, with many SMEs eager to trade globally, embrace M&A and invest in a sustainable business future. It’s clear we’re at a crossroads and it’s time for businesses to pick their path for 2022 and beyond.

FEELING CAUTIOUSLY OPTIMISTIC

This report pulls together key business insights from 2021, including:

  • 50% of SMEs are confident that customer demand, as well as turnover, will increase in 6 to 12 months
  • 70% of SMEs are planning to ramp up business investment, with a quarter intending to hire staff and upgrade equipment or machinery
  • The majority of SMEs believe prudent borrowing is a key growth enabler and 71% now believe that alternative banking products are a more convenient way to borrow compared to traditional finance
  • 81% of SMEs plan to invest in sustainability as part of their growth strategy

LOOKING TO THE FUTURE

Download our report below to get the key findings and full insights on SMEs’ short and long-term plans for business investment and growth.