UK SMEs bullish about growth in 2017

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Capital Economics have published their 4th Quarter UK SME Growth Tracker, in association with Amazon and Enterprise Nation.

It makes for interesting reading because the SMEs surveyed are bullish about their potential revenue growth but are less confident about national economic trends and the international outlook with specific regards to potential for Brexit problems in the future.

1000 SMEs from across the UK were quizzed and collectively forecast revenue growth of +1.8% and employment growth of +0.8% in Q4 and into 2017. Both of those are on up on Q3 findings.

Brexit isn’t currently a real concern but the tracker suggests SMEs think it could become significant. 76% said they haven’t delayed decisions after the 23rd June referendum.

Mark Pragnell of Capital Economics says: “Although a majority of SMEs see the consequences of Brexit as a risk over the next twelve months, Brexit isn’t everything. A bigger number of SMEs see euro-zone instability, a fall in domestic demand, higher price inflation and a global recession as greater risks to their business.”

Anecdotally, it would seem that the businesses Tamebay deals with are taking a ‘Carry On Regardless’ approach and making the most of the status quo because it’s by no means clear what the future holds. But come the early part of next year, it will be interesting to see if that idea changes as details emerge of the shape of a Brexit deal.

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