SMEs still optimistic

SMEs remain optimistic about their futures, with more than fifty percent anticipating an increase in turnover over the next twelve months, and have shown determination to battle on. Research figures presented by Aldermore suggested that 55% believe that a greater drive in sales and marketing activity would fuel either a modest or significant upturn in fortunes.

38%, by comparison, suggested they felt levels of business stay unchanged over the next twelve months, whilst a small proportion, only 7%, felt business would decline over that same period.

This optimism lies in direct opposition to opinions on the economic situation as things stand 84% expressed a belief that the economy remained worse or unchanged compared to last year whilst only the remaining 14% felt that they had experienced any improvement.

Aldermore’s Director of Commercial finance, Ian Wilkins, said that the figures showed that optimism was beginning to increase in SMEs, despite the current austere conditions. Wilkins noted that these SMEs were currently committing more resources to both sales and marketing activity, with firms confirming they were employing a number of more specialist staff and investing in marketing campaigns and other ways of encouraging new business.

He did note, however, that business owners would need more support from banks if their optimism and new efforts were to be made worthwhile. This, sadly, didn’t seem to be occurring too regularly as larger banks were less willing to renew existing credit lines.

Wilkins said that Aldermore’s commitment to helping SMEs was apparent through their services, which include specialist financial products to help with purchases of property or equipment necessary for the growth of each business.