Small and medium-sized businesses in the UK are increasingly confident they can source the funds needed to drive growth in 2018, new research shows.
The latest Aldermore Future Attitudes report reveals that three-quarters (75%) of SMEs, representing more than four million companies, are confident that they will be able to access the funding they need to grow their businesses over the next year, compared to 63% in Q4 2016.
A total of 42% think their business’ revenues will increase over the coming 12 months, compared to 39% for the same period last year, despite the ongoing uncertainty of Brexit negotiations.
Half of business owners who are expecting an increase in business revenues over the coming year plan to make this happen by increasing marketing efforts.
Carl D’Ammassa, group managing director, business finance, at Aldermore, said: “It is encouraging to see that optimism amongst SME leaders is increasing, with attitudes towards business revenues staying positive for the next 12 months.
“SMEs make an essential contribution to the UK economy and with Brexit discussions progressing, their ability to obtain finance and help support the growth of the UK economy will be crucial.
“Planning can be a difficult task, but to ensure ongoing success, every business owner needs to have a vision for growth and an understanding of how they would like to get there.”