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UK SME’s optimistic about future prospects

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Limited company contractors will be interested to hear about the latest Sage Business Index, which has revealed that most small businesses believe that they can take on larger companies.

The Sage Business Index found that UK firms haven’t felt this positive since 2008, however, 69% of the 1350 businesses surveyed admitted that the economic climate has meant that smaller firms are finding it slightly harder to complete against larger firms.

According to the report, just under two thirds of small businesses felt confident taking on their larger rivals, and in the last six months, 69% of UK respondents said revenue had either increased or held steady while 26% said that they are planning on hiring new staff in the next year.

Commenting on the survey findings, Brendan Flattery, CEO of Sage UK and Ireland said: “Big business may still have the edge in the current marketplace, but the tide is turning thanks to social media and the delivery of a personal customer service. 

It’s crucial that small to medium businesses and entrepreneurs are given the tools they need to thrive and feel empowered to compete with companies bigger and more established than themselves.”

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