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Businesses Reveal Renewed Confidence in Long Term Growth This Small Business Advice Week

This Small Business Advice Week, new research reveals a surprisingly positive outlook from our nation’s companies.
Finance - 7 September 2011   Download IconContent available for download:  
Audio | Interview with Robin Foale| Login to Download

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  News Hooks:

New research has revealed that, in spite of the economic climate, UK businesses are showing a renewed confidence about their long-term growth prospects. The average UK company is expecting to double in size over the next 5 years, with businesses of annual revenues up to £20million expecting to double their turnover.

Smaller businesses are proving to be the most optimistic about their growth prospects. Companies with a turnover of less than £500,000 expect to grow their business three-fold (by 202%) over the next 5 years. Larger businesses also have ambitious expansion plans, with companies turning over between £5million and £20million expecting to grow by an average of 86%.

However, the tough trading environment is still representing a big challenge for businesses. It has been cited by half of companies as preventing them from growing and, as such, many businesses are still firmly focused on survival in the short term. Nearly half (47%) of businesses admit that survival is their immediate key priority, compared with 30% of businesses which say they are focusing on growth.

. Introduction:

New research has revealed that the average UK company is expecting to double in size over the next 5 years. This renewed confidence in long-term growth prospects is welcome news for the UK as the country is reliant on these businesses to drive economic recovery. However, these expectations of growth are certainly ambitious, and in order for businesses to achieve these targets they first need advice, guidance and financial support.

So, this Small Business Advice Week, what can business owners do to ensure the growth of their enterprise?

Joining us to discuss this further is Robin Foale, Santander’s Head of Business Banking. Robin will be offering top tips on how to make you and your business more appealing to lenders.

. Suggested Questions:

What does the research reveal about expected company growth in our area over the next 5 years?

Why are businesses so confident about their long-term growth potential?

What would you say is essential for business growth?

What are the key things businesses need to consider when looking to secure finance?

It has been suggested that banks aren’t lending money to businesses in the UK, is this true?

What other advice would you give to businesses who are hoping to see a prosperous five years ahead?

Where can we find out more information?