UK SMEs are Optimistic for Growth Opportunities in the Year Ahead

UK SMEs are optimistic for growth opportunities in the year ahead

UK SMEs are Optimistic for Growth Opportunities in the Year Ahead

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Here at BCRS we are passionate about supporting SMEs with the finance they need in order to flourish. We provide loans from £10,000 to £150,000 with terms from 1 to 7 years to support the growth of businesses in the West Midlands region.

Are you an SME looking to grow your business? You’re not alone! Two thirds of SMEs in the UK are optimistic for opportunities for growth in the year ahead… But how will they get there?

Keep reading to find out more…

UK small-medium sized enterprises (SMEs) are optimistic about growth opportunities in the year ahead after a spike in business in late 2019. Those in the professional services are expecting an annual boost of 9.3%. Others operating in construction and real estate are expected to reach quarterly growth of 6.3%.

Economy

Economic uncertainty is slowly but surely becoming something of the past and businesses are starting to see the light at the end of the tunnel.

International trade deals are in place enabling a potential surge in SME’s starting to trade internationally. Why wouldn’t you if the opportunity was staring you right in the face? 17% of businesses reported that they had started to trade internationally in the past 12 months, with a further 10% intending to do so this year.

Technology

The technology industry is growing 2.6 times faster than the rest of the UK economy, it contributes £184 billion to the UK economy which is a rise of £14 billion since 2016. The UK is now considered the global tech leader with London positioned at 3rd in the global tech start up eco-systems.

Investment into affordable technology systems and tools will ultimately fuel the growth of SMEs from every angle. Whether it be connectivity, data analysis or day-to day operation there is no doubt that technology will bring SMEs to the forefront of their industries and enable them to compete with the ‘big players’ in the market.
However, growth often requires investment which can be a ‘sticky’ point for some businesses especially when it comes to more sophisticated (and expensive) technology and equipment.

 

This is where we can help! If you are an SME located in and around the West Midlands looking for funding for the growth of your business and want to have a positive contribution to your local economy head to bcrs.org.uk to find out more.

We genuinely love helping small businesses achieve their goals – seeing them grow, supporting the people who work there and the communities they serve.

We offer:

• Business loans from £10,000 to £150,000
• Relationship-based lender
• Speedy loan process
• No early repayment charges
• Five-star rated customer service on TrustPilot

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Lauren-McGowan AvatarPublished by – Lauren McGowan – Digital Marketing Assistant

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