2013: The Year for Business Growth
Business owners are starting 2013 with optimism as 48% predict growth.
Confidence is up for small and medium-sized enterprise (SME), according to Aviva’s SME Pulse report. Across the UK, 500 SME owners were questioned in the study.
It appears last year’s Olympics and Jubilee celebrations have left a sweet aftertaste. Increase in tourism and sales have triggered an optimistic mood in the SME world, with positive repercussions for this year.
So, 65% of business owners are forecasting healthy sales in
2013. This is almost double the number compared to this time last year.
However, business success has not simply been down to national celebrations. SMEs are making concerted efforts to maintain dynamism and creative in their company by diversifying. In the last six months, almost a third of business owners have expanded their products and services. Again, this is almost double compared to this time last year. Moreover, a quarter of SMEs are looking to continue diversifying and boost sales this year. This has triggered ambitious development plans with eight out of ten businesses aiming to increase their revenues.
What a positive start to the year! Have you thought about how you could maximise profits by introducing new products? Consider doing some market research before you invest time and money in diversifying. Ask your customers or clients what they need or would like to see. This could not only expand your business potential but ensure customer retention as your clients feel valued with the service they receive.