SME's eye growth

Small firms eye growthA poll by Hitachi Capital Business Finance has found that 78% of SMEs are working on growth plans, with confidence about the economy increasing. The survey saw almost half of the SME owners quizzed say increasing sales is their top priority, while 28% said launching new services or products and 23% pointed to a focus on reducing costs and building up financial reserves. It was also shown that confidence is at a two-year high. Joanna Morris, Hitachi Capital’s head of insight, said: “Small businesses are the bedrock of the UK economy, so it is encouraging to see that they are still standing tall and looking forward at a time when many larger organisations are evaluating the impact of COVID-19.”