If you’re an entrepreneur with a small business who’s planning to expand in the coming 12 months, you’re not alone in having growth plans.
The findings of the latest Small Business Barometer compiled by Enterprise Nation and Experian revealed that 72 per cent of those polled expect their business to grow in the coming year.
That’s just five per cent lower than the figure in 2017, which, given the political uncertainty in the UK at present, is encouraging.
What’s more, 65 per cent of those questioned said that they’re planning to increase their profits by introducing new products or services.
However, the survey also found that 50 per cent of people running small businesses feel lonely sometimes, with 29 per cent stating that they often feel lonely. One way to help alleviate the stress is to have someone to turn to for advice.
Around one-third of those surveyed said that they were a member of a business membership organisation, while one-fifth revealed they had a mentor.
Business networking in Hull can be a great way to meet other entrepreneurs and start to develop a support network.
Founder of Enterprise Nation Emma Jones commented: “Yet again, we see the resilience of the UK’s entrepreneurs, and despite the political turmoil it seems they are just getting on with what they are good at – business.”
Peer2Peer Finance News recently reported that the British Business Bank, a state-owned establishment designed to help businesses access the finance they need, lent £6.6 billion in 2018, helping over 89,000 businesses in the UK.