SMEs increasingly concerned about the outlook for the economy

A recent business barometer report has shown that UK small and medium sized enterprises (SMEs) are becoming increasingly weary of their business growth prospects. Only one in five business leaders interviewed, said that they are confident about the gradual recovery of the economy, with more than a quarter fearing the economy could once again decline.

According to the barometer, only a fifth of those SMEs interviewed envisage business expansion over the next 12 months, with 57 per cent anticipating no growth at all and one in 10 even expecting their businesses to contract within the year, or possibly close down.

Our specialist team of SME advisers at Beavis Morgan are on hand to provide guidance and strategic advice to help in formulating plans for your business in order to strengthen its prospects of success, achieve growth and maximise wealth. We will help to define any key issues, make adjustments to factors such as emphasis, focus and timing, and put in place a robust business strategy to deal with the challenges that lie ahead.

To increase the chance of recovery, businesses and individuals who have concerns about their finances should seek professional advice sooner rather than later. A proactive approach now, could help to avoid business issues or even closure later. For further information, contact Steve Govey or your usual Beavis Morgan Partner.