Small Business Outlook for 2014

Small Business outlook for 2014

Whilst reading one of the Google Plus groups pages today I stumbled onto this info graphic by Boost Capital. They surveyed UK Small Business owners about how optimistic they where about business growth in 2014. They surveyed over 100 small business owners and decision makers who had less than 250 staff, and the results are as follows:

SME Outlook Infographic

Are Things Looking Up For UK Small Businesses?
Spring 2014 SME Outlook
We surveyed over 100 small business owners, the backbone of the UK economy, to gauge their optimism for the future.

Small Business Optimistic about Growth

The research team found that well over a quarter of small businesses are planning to find funding for their business this year. With thirty-four percent having set growth as their main target for 2014.

Small business owners are more optimistic than ever, with an overwhelming majority in the Northern regions actively seeking growth.

The Top Four Regions with Active Growth Plans:

North East – 80%
Yorkshire & Humberside – 71%
West Midlands – 71%
South East – 71%

I can hear you shouting, but which industry sectors are planning for growth?

Small Business Growth
Small businesses are eager to grow, that much is certainly apparent. However business decision makers in the following industries have gone on record to say they actively plan to expand their business in 2014:

Construction – 22%
Arts – 25%
Automotive – 33%
Transport/Travel – 40%
Education – 43%
Retail – 43%
Hospitality and Tourism – 60%
Animals/Veterinary – 67%
Healthcare – 67%
Financial Services – 73%
Computers/IT – 75%
Marketing – 83%

How can you make the most of this information?

Getting this sort of information is great, but what do you do with the knowledge?
How can you maximise the return for your business with this information?

To put it simply, look at the regions and sectors that are already positively attempting to grow. Which of these sectors can your business make the most of. Does your business supply goods or services to construction and retail sectors, that could be of use in healthcare, financial services or marketing? If so now is the time to develop a client profile of your ideal client in these new sectors and by using a solid business development or sales plan, implement a campaign for growth into these growing sectors, take advantage of the knowledge you have.

If you would like some assistance in formulating a plan for growth, give Carl a call on 0161 751 0233 today for a free no obligation chat.

Source: Business Blog
Title: Small Business Outlook for 2014
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