Businesses anticipate revenue upswing

Date: 24th November 2011

More than half of the small businesses operating in the UK are anticipating a rise in revenue in the coming year.

That is according to a recently-published report by insurance broker Simply Business, which showed that 62 per cent of small firms expect revenue to increase over the next 12 months.

The survey of 374 enterprises also showed that firms expect to take on new staff members in 2012 despite continued economic difficulty.

Jason Stockwood, chief executive officer of Simply Business, commented: "The optimistic picture these firms paint is heartening in these tough times.

"When you consider that small businesses account for 99.9 per cent of the total enterprises in the UK and provide over 59 per cent of the jobs in the private sector their continued success and growth is key to our economic recovery."

The study also revealed that 27 per cent of firms plan to increase their headcounts, while 65 per cent will focus on winning new business next year.

Posted by Thomas Fletcher