Economic fear cramps small business growth
Almost half of small businesses are too cautious to invest in growth due to economic uncertainty, Venture Finance reports.
In a survey of 500 companies, the asset-based lender found 31% of small businesses have no plans to grow and over a quarter are not planning to invest within the next 12 months.
Peter Ewen, managing director at Venture Finance, said: "SMEs need to put their heads above the parapet and start exploring their business and financial options. Now could be the time to put internal, and external, resources to good use to grow their way out of hard times."
Continued...
The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.
Registration is FREE and allows you to view all content, ask questions, comment and much more.
Or if you are already registered, login here
Related links
Small Business Growth
As a boost to this sector and the UK economy a unified change of direction is required.
Perhaps it is up to the Government to encourage this through changes in their attitude to supporting SMEs or through the introduction of punitive measures for profit retention.
One thing is clear - the SME community in this country provides perhaps the best prospect to improve the UK economy and do not receive adequate attention from the Government.