SMB bosses confident over the future for their companies

Friday 9 November 2012

The vast majority of small and medium-sized business (SMB) owners believe their company will have a degree of longevity, a survey has revealed.

A poll conducted by the Guardian showed that 90 per cent of business owners expect that they will still be running their company in five years' time.

Despite operating through a lengthy economic downturn, most entrepreneurs remain optimistic and focused on growing their businesses.

Alison White, editor of the Guardian Small Business Network, noted that the study had showed some "encouraging signs", with lots of small companies predicting growth.

"There is confidence around business performance - two-thirds of those polled estimated their turnover will be significantly greater in three years' time," she explained.

Expansion also appears to be on the agenda for SMBs, with 41 per cent of those polled planning to recruit more staff in the next year."

But Ms White told the news provider that there are still "numerous challenges" faced by people running SMBS.

Among these are a fall in demand from public sector clients, a lack of sales expertise, the sheer volume of work and a lack of time to complete all necessary tasks.

Posted by Jenny Arthur