Deloitte Study Highlights Strong Hopes For Future Among SMEs

Entrepreneurs in the Midlands are increasingly confident about potential growth opportunities in the future, according to the new research published by Deloitte.

According to BusinessDesk, the study revealed that optimism among entrepreneurs is at its highest level for six years, with 48 per cent of those polled believing they will see growth of at least ten per cent across the next 12 months.

In addition, 14 per cent also stated that they expected growth of over 50 per cent across the same period, entrepreneurs revealing their growth strategies are built around both organic growth and investment in new products, as well as exporting to new markets.

The release of the findings has come after research by the Federation of Small Businesses (FSB) earlier this year revealed confidence among small and medium-sized enterprises is now at a three-year high.

The FSB Small Business Index reached 15.9 points in the second quarter of this year.

Expert Opinion

These latest findings from Deloitte are just the latest evidence that confidence is growing among entrepreneurs, with many feeling that opportunities for growth are increasing as the economy seemingly continues to improve. <br/> <br/>“This is of course excellent news for SMEs and the wider business world, but it is vital amid the enthusiasm for growth that companies recognise the importance of having the right structures in place to ensure they are ready for growth and expansion. <br/> <br/>“A key aspect of that is having access to specialist legal advice which will ensure they have the right policies, plans and support in place as they set off on the road to greater success.” Fergal Dowling - Partner