SMEs expecting increased turnovers in 2013

Skipton Business Finance is a leading invoice financier specialising in factoring and invoice discounting facilities

More than 80% of SMEs are expecting their turnover levels to increase in 2013, a client survey by Skipton Business Finance has revealed.

A material increase in turnover is predicted by one in five SME owners, with a further 60% expecting to see a modest increase.

Only 2% are preparing for turnover levels to decrease, as SMEs increasingly look to stay positive and increase their operations over the next 12 months.

The survey by the leading invoice financier also asked SME owners what the major challenges to their business were likely to be in 2013, with more than six in 10 highlighting the unpredictable economy as the single biggest factor.

11% felt that their biggest challenges came from competing businesses whilst 21% highlighted funding issues and late-paying customers as worries.

Richard Cole, Corporate Manager for SBF, felt that Skipton Business Finance's clients could afford to be optimistic for the year ahead: "Our clients benefit from having an invoice finance facility in place, which helps to safeguard their cashflow and ensure such issues as late-paying debtors are no longer causes for concern".

He continued: "They can then focus on running their business, rather than spending their time chasing debts and worrying about when the next payment is coming in".