Powered by MOMENTUM MEDIA
Broker Daily logo

Further growth forecast for SMEs

The majority of small and medium-sized enterprises are expecting to grow over the next 12 months, according to accounting firm RSM Bird Cameron.

In the group’s thinkBIG 2015 report, 68 per cent of business owners stated they anticipate growth, compared to 64 per cent in 2014.

The report revealed that 49 per cent of SME owners reported growth over the last 12 months, up 3 percentage points from last year, while 16 per cent reported a decline in revenue compared to 20 per cent last year.

“Business owners are cautiously optimistic about the medium-term prospects for their business,” according to national head of business solutions Andrew Graham.

==
==

“When looking at the results over the past few years, we can see, however, that the optimism is not always realistic.

“When comparing expected growth with achieved growth, there is a clear gap,” he noted.

Of those surveyed, 40 per cent of SME owners said their business growth is expected to come through increased sales in the current pipeline.

The survey also found that 26 per cent expect growth to come from new markets, 20 per cent from the launch of new products or services and 20 per cent from expansion.

“The most successful businesses will be those that address the rapidly changing sales environment by recognising growth opportunities, ensuring due diligence and financing is appropriate, and engaging their workforce to drive productivity,” Mr Graham said.

More on Innovation
22 November 2024
As operational costs increase, those with the capability may be interested in offshoring staff. While this can be a ...
15 November 2024
Broker Daily and principal partner Mortgage Choice are proud to announce 30 winners for the annual Women in Finance ...
13 November 2024
Organisations must go beyond recruiting a diverse workforce and embed a culture of inclusion to reap the benefits, ...