Over a thousand business decision makers across the UK were questioned for the latest Aldermore Future Attitudes report, with the results showing increasing confidence.
The report not only found that SMEs were becoming increasingly positive regarding funding options, but that they were also more confident that their revenues will rise over the coming year.
In total, more than two in five (42%) SME owners think they will see an increase in their revenues compared to 39% in Q4 2016, with over one in ten (11%) of bosses expecting to see a significant increase in profits over the next twelve months.
The methods of securing this growth vary with half (50%) planning to increase marketing efforts, just under two fifths (39%) launching new products or services, and a third (33%) entering new markets.
Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, commented, “It is encouraging to see that optimism amongst SME leaders is increasing, with attitudes towards business revenues staying positive for the next 12 months. SMEs make an essential contribution to the UK economy and with Brexit discussions progressing, their ability to obtain finance and help support the growth of the UK economy will be crucial.
“Planning can be a difficult task, but to ensure ongoing success, every business owner needs to have a vision for growth and an understanding of how they would like to get there.”
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