Small businesses are increasingly unclear as to how to implement effective growth strategies in an uncertain economic phase, a new report has revealed. Close to 50% of businesses surveyed admitted that knowing how to achieve growth was a big challenge. 30% were also having difficulty defining a clear growth strategy. Simon Littlewood, director at Growth Accelerator, said: "Knowing the best way to achieve growth is a sizeable challenge and an added pressure in changeable economic times". Further findings from the survey showed how only 16% of small business owners were spending the majority of their time planning for growth, whilst half are spending either little or no time at all on business strategy.Richard Leathley, Corporate Manager for SBF, said: “SMEs and small businesses truly are the lifeblood of the UK economy and we should be looking to help them, in whatever way possible, grow and expand their operations”. “A prosperous, healthy SME sector is highly beneficial to businesses and consumers alike, as well as assisting the economy in general and helping spur growth”, he added.
Become a member of our society
SBF is a invoice finance specialist owned by a mutual building society which gives us a completely different ethos to our competitors. We strive to deliver flexible invoice finance that helps grow with the business of the client and our sales approach is shaped purely around this philosophy. Over the last thirteen years, we have funded businesses in a variety of ways and provided them with funds that grow in line with their sales. Why not enquire today about an invoice finance facility and help kick-start your growth plans. Call us on 0845 602 9354, email our team on firstname.lastname@example.org or request a call back using the form on the right hand side.