Thursday, 19 July 2012 09:49
Yet the majority are upbeat about their own enterprise, according to new figures.
One in three mid-market entrepreneurs expect the UK economic climate to deteriorate over the next 12 months, with only 27 per cent expecting it to improve, new research shows. However, this is an improvement on the findings from December 2011, when the corresponding figures were 49 per cent and 13 per cent respectively.
Despite a number of mid-market entrepreneurs feeling negative about the country’s economy, the Investec Entrepreneur Confidence Index shows that when it comes to their own enterprises the vast majority expect them to grow.
For example, when asked about what they expect to happen to the revenue of their UK businesses over the next 12 months, only 4 per cent expect it to decline. Some 87 per cent expect it to grow, with just over one in four expecting growth of over 20 per cent.
Similarly, when it comes to cashflow, 70 per cent expect it to grow over the next 12 months, and only 7 per cent anticipate it will fall. In relation to profits, only one in ten expect them fall, compared to 81 per cent who anticipate growth.
In terms of how they intend to grow, one in three say it is ‘very likely’ that they will launch new companies or products within the next 12 months, and 41 per cent say it is ‘quite likely’ that they will do this.
Growth will also be fuelled by an increase in exports. 56 per cent of entrepreneurs interviewed expect to enjoy an increase in the exporting of their goods over the next year, compared to only 4 per cent who anticipate that their activity here will fall. Similarly, 51 per cent expect their strategic exposure to new international markets through customers, suppliers and production, will increase, with only 2 per cent expecting a decline.
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