Reaction to SMEs prediction of strong growth levels
Vinden Partnership welcomes increase in SMEs’ business confidence.
According to the latest figures from the Santander Corporate & Commercial Business Growth annual survey, senior decision makers from small and medium enterprises (SMEs) are predicting strong levels of growth over the next five years.
The survey found that SMEs with less than 250 employees predicted an average turnover growth of 37%, the equivalent of £2.4M over the next five years.
Small businesses were the most optimistic, expecting an average increase in turnover of 69%. Medium sized companies meanwhile predicted a lower figure of a 25% increase in turnover over the same period.
Chris Duffill, Director of the Vinden Partnership – a leading multi-disciplinary consultant company to the built environment – welcomed the increased optimism but offered a warning on the “dangers” of rapid growth.
“These are extremely positive results. Small and medium enterprises play a critical role in the economy and a prediction of growth over the next five years is fantastic news for the UK economy.
“The shift in outlook from survival to expansion gives a clear indication of the positivity around most SMEs at the moment.
“Without being a pessimist, I would like to offer a note of caution to companies that growth should always be manageable as expanding too quickly can place dangerous financial strains upon a business.
“The importance placed on retaining key staff members is also a welcome reminder that skilled employees play a vital part in the success of any business.”