Starting a new business? Get 40% off our accountancy services for 3 months! 😎

x

A report which has recently been published by Axa Commercial Lines, reveals that UK Small and Medium Enterprises have a mixed outlook regarding recruitment, profitability and turnover in 2012. The survey was conducted by researchers at Axa, revealing that almost half SMEs are expecting their turnover to increase over the next 12 months.

Although the forecast for the economy is gloomy, with concerns for growth, 43 percent of SMEs believe that their company will experience growth in 2012, with only a sixth of the businesses surveyed expecting their turnover to fall during the next year.

Sole traders have a slightly different outlook, with only 23 percent expecting their turnover to increase in the next 12 months. However, for SMEs who have a workforce between 50 and 99 employees, over 50 percent expect turnover to increase in the next year. According to the managing director of Axa Commercial Lines, Matthew Reed, the future for SMEs is not as gloomy as the media portrays as the situation is far more complex than believed.

Worryingly for Mr Reed, when SMEs were asked to state the main risks which their business faced in the next year, almost 25 percent didn’t recognise a single one. He said:

“I find this quite staggering. In my view it means that brokers have a major role to play in helping their clients to both understand the risks their businesses face during these difficult times as well as manage them.”

Reed further emphasised the need for advice regarding risk management.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Staff Spotlight: Charlotte Hughes, Accounts Junior

This month we spoke to Charlotte Hughes, Accounts Junior at The Accountancy Partnership! Give an overview of the duties, functions and responsibilities…

Read More

Staff Spotlight: Rebecca Boyd, Accounts Junior

This month we spoke to Rebecca Boyd, Accounts Junior at The Accountancy Partnership! Give an overview of the duties, functions and responsibilities…

Read More

February 2024 Client of the Month: CHERESHNIVSKA

This month we spoke to Iryna, CEO and Founder of CHERESHNIVSKA!  CHERESHNIVSKA | Instagram | Facebook Hey Iryna! Tell us about your business CHERESHNIVSKA…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.