SME Growth Tracker reveals UK SMEs expect accelerating growth in 2017
This month Capital Economics published findings from the fourth quarter SME Growth Tracker, a report commissioned by Amazon UK and Enterprise Nation, based on a YouGov survey of more than 1,000 UK small and medium-sized enterprises (SMEs), assessing SME growth prospects and views on the broader UK economy. Key findings include:
• Small and medium-sized enterprises (SMEs) predict revenue and hiring will accelerate in 2017, with 3 in 4 saying it is business as usual since the Brexit vote
• SME confidence weakens in Q4, with SME Confidence Index scores down from +5 to -4 for their own companies, from -2 to -9 for their respective industries, and from -13 to -15 for the broader UK economy
• SMEs that use e-commerce are most positive about revenue growth, with a quarter expecting e-commerce to boost Christmas sales.
"What we're hearing is that SMEs see a lot of opportunity in the year ahead, but equally some hurdles as they navigate potential changes in the economic landscape," said Doug Gurr, UK Country Manager, Amazon. "Investment in proven growth drivers like e-commerce and exports and a focus on boosting productivity, help best position SMEs for the future, and at Amazon, we’ll be working hard to support and champion their success.”