Survey Shows UK SMEs Achieving Growth Despite Barriers

A survey of SMEs carried out by Haines Watts of over 1000 business owners, has highlighted that, despite operating in a difficult economic environment, many UK SMEs are looking to grow.

The survey showed that 44% of businesses surveyed have achieved positive growth over the past three, tough, years. Another third remained the same.

The survey confirmed that most of this growth (52%) has been achieved within the UK, although there are strong signs that enterprises are also looking at overseas opportunities, particularly in Europe, but also in North America and Asia Pacific.

This is good news for the Confederation of British Industry (CBI), which has upgraded its economic growth forecast for the UK in 2014 to 3.0% from its previous 2.6%, stating that it expects to see marked improvements in business investment and productivity.

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