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Chartered AccountantsSME growth expected to accelerate
A study by Amazon and Capital Economics indicates SMEs will enjoy further sales growth next year. Sales climbed by 1.2% in the last year at the average SME, but is expected to accelerate to 1.5% in the next year. Export revenue growth is also forecast to double - from 0.4% this year to 0.8% next year - while employment growth is predicted to rise to 0.7% in the next 12 months. Of the 1,000 SMEs surveyed, around half said they expect the Brexit vote to hit sales, while a fifth said it would be positive. Separately, Hitachi Capital chief executive Robert Gordon has advised small businesses to proceed with their investment plans despite Brexit-induced uncertainty, or risk stagnating.
