4th March 2015 - Business News

Small and medium sized businesses more profitable says research

The Nation’s most reliable source of evidence on enterprise, otherwise known as the BIS’ Small Business Research Survey 2014, at the Small Business Research Conference in London, has published it’s results for last year. small businesses doing better

Asked to look forward, 32% of small and medium-sized employers expected to be employing more people in 12 months’ time, just four per cent expect to have fewer employees (21 % in 2012). 40% of small and medium-sized employers reported their turnover is greater now than 12 months ago, compared with 29% in 2012. Only 18% report declining turnover, down from 31%.

Over half (51%) hope to grow their turnover over the next year.

SMEs Nov14

The research finds a third of small and medium sized employers expect to employ more people in 12 months’ time, compared with one in five in 2012.  Half of the 4,355 SME employers questioned say their turnover is likely to be higher in the coming 12 months – up from 37 per cent in 2012.

Almost three quarters of small and medium-sized employers plan to grow their business over the next two to three years, compared with 68% in 2012. Small and medium-sized employers are recruiting more staff, with 22% of the firms taking on more staff over the last 12 months, compared with 19% in 2012.

The research group is now recruiting businesses for next year’s survey and is looking for interested members to join:

Enterprise Directorate will be hosting its 2015 Small Business Research Conference: Unlocking Greater Growth at the Warwick Business School premises in The Shard on 3rd March 2015.

Over the past 12 months Enterprise Analysis has undertaken an exciting range of research on enterprise and small business. This conference is an opportunity for delegates to be among the first to hear findings from our research including our flagship 2015 Small Business Survey and to discuss with stakeholders on how best to help smaller firms scale-up to the benefit of their own firm and the wider economy.

BIS has focussed recent research on what is the essence of the businesses that grow: their outlook, their mind-set and their actions. Key themes for the day will include the importance of leadership and management skills, what motivates entrepreneurs, the relationship between ambition and business performance, and what influences the performance and growth of small businesses.

How can I get involved?

  • Follow @BISEnterprise and @bisgovuk for mentions/retweets/discussion on Twitter
  • Remember to use the hashtag in your tweets – #SmallBisResearch
  • Share information on how small business can grow through your social media channels, tweet using #SmallBisResearch
  • Do you have a newsletter, online group or forum? Share stories about government support you have accessed to help your business grow.
  • You can also get involved in posting messages of support and starting conversations on Linkedin. Log in and search ‘Business is Great’.

 

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