76 per cent of UK businesses would like the government to do more to help them through the maze of potential challenges presented by Brexit.
The O2 Business Barometer, a survey of 1,200 small and medium sized businesses (SMEs), highlighted five key areas of priority for the government to focus on. 48 per cent of people cited a reduction in red tape as being a priority. This was followed by improved access to technology and connectivity (48 per cent), increased access to funding (41 per cent), improved access to talent and training (39 per cent) and better trade agreements (37 per cent).
64 per cent of those surveyed said they will be looking to expand into new markets in 2017, and 69 per cent will be looking to launch new products and services. Technology continues to be a significant success factor for UK businesses, with 80 per cent of respondents considering it to be a key driver of commercial gain in 2017.
Improved connectivity (59 per cent) and physical infrastructure (46 per cent) were both cited as important to the success of UK businesses.
Ben Dowd, Sales Director at O2, comments: “The Government has set out its plans for a 'world class digital infrastructure.' Now it’s time for action. We need collective effort from Government and industry to make sure businesses across Britain have access to the technology and connectivity they need to keep up with their customers’ demands, achieve growth and remain competitive on the global stage."
Whilst the future remains largely uncertain for UK SMEs, businesses must ensure they have the right structures in place to respond quickly to the changing market conditions.
Our SME business experts at Beavis Morgan are able to guide you on your strategy, help you navigate the challenges that lie ahead, and assist in making those all-important business decisions that will have the greatest impact on future success.