A cross-sector cohort of UK SMEs predict an average 25% sales increase for the next financial year, new industry research reveals.
The research, conducted by SME working capital specialist Skipton Business Finance (SBF), collates the perspectives of almost 1,000 business leaders from SMEs across the UK.
The businesses were also interviewed about whether they can see themselves hiring more staff with over a third of SMEs (35.39%) saying a confident ‘Yes’, and a further 43.62% replying ‘possibly’.
A cross-section of SME sectors was represented in the research including manufacturing & construction, haulage & transport, printing & media, recruitment, maintenance & repair, and food & drink. When grouped into individual sectors the data still reaches a similar 25% average for each sector.