A recent survey has revealed that over 50% of British SMEs (Small to Medium Enterprises) expect to grow in the next year, indicating that optimism about an economic recovery is starting to spread.
The survey was conducted by BDRC Continental and commissioned by a business finance taskforce, set up by the UK’s six largest banks.
The main findings of the survey were as follows:
51% of SMEs said they expect to grow in the coming year, a rise of 3% from the last quarter.
44% of those surveyed said they had experienced some growth in the last 12 months, a rise of 5%.
44% of SMEs had accessed external finance of some kind, which is also an increase of 5%.
The British government considers the growth of SMEs vitally important for boosting growth in the economy as a whole and has been actively promoting lending to the SME sector.