59 per cent of small and medium sized businesses (SMEs) believe they will experience growth in the UK market over the next 12 months.
The recent survey found that just 20 per cent of SMEs in Europe shared the same level of confidence, with 18 per cent in North America, 9 per cent in Australia and New Zealand, and just 7 per cent in Japan, East Asia and the Pacific nations.
The report findings indicate that SMEs are starting to feel more confident that Brexit could present opportunities for expansion.
“For many smaller ventures, the UK domestic market is key to their growth outlook, which is good news for inward investment and job creation,” a spokesperson for the report says.
In this current economic climate, it is more important than ever that business owners look at ways of improving profitability, working capital and cashflow, enabling their businesses to be more agile and flexible to respond positively to the changing economic landscape.
At Beavis Morgan, we work with a wide range of businesses of all sizes and across many different business sectors, helping them with strategic planning, system implementation, business turnaround and improving business performance for the future. Our diverse team of tax professionals are also committed to ensuring that your tax reporting obligations are fully satisfied and that every opportunity to lawfully exploit tax savings is made known to you, restructuring your affairs in a tax effective and efficient way.