Small business owners are looking to innovate and diversify their business to ensure they make the most out of a summer of events in the UK, according to new research from Aviva.
More than a quarter of business owners surveyed indicated they’d diversified their product / service range this summer, compared to 17% doing so in winter last year.
A quarter of SMEs were also expecting to see a boost to their business from seasonal events, with businesses across the Midlands, Yorkshire and North East as confident as firms in London that they’ll see a boom over the summer months.
Even some manufacturers (20%) were expecting increased output levels, although there was some concern that the boost to trading might be short lived. A fifth of small business owners were concerned they might see a dip in Q3/4 revenues.
27% of SMEs had reported a rise in revenues due to the Diamond Jubilee earlier in the year.
In over ten years, Skipton Business Finance has funded businesses in a variety of many ways and given access to funds that grow in line with their sales meaning that the solutions we provide are more flexible than a traditional bank overdraft. This means that the invoice finance solutions we provide, such as invoice factoring and invoice discounting, is the fastest growing alternative to a bank overdraft.