Small businesses confident of growth, says report

Smaller firms are feeling confident of growth heading into the new year, according to research published yesterday (December 27th).

The Co-operative Bank explained that nearly half expect growth in 2013, with 44 per cent saying that they believe sales and orders will rise next year.

Furthermore, 23 per cent of senior decision makers said that they are going to be investing in new equipment or premises improvements, while 22 per cent are set to expand their workforce.

Keith Alderson, Managing Director of Corporate and Business Banking at The Co-operative Bank, said: "SMEs and entrepreneurs are widely acknowledged as vital to Britain's economic recovery so these results are good news as we head in to 2013.

"As the curtain closes on another tough year it seems many SMEs are now looking forward with a cautious sense of optimism about the challenges for their businesses next year."

It comes as the Federation of Small Businesses' Voice of Small Business Index shows that confidence continues to grow in north-west firms.

Posted by Emily Smith

Last updated: 28th December 2012