A survey carried out by T-Mobile has revealed that more than half of all small businesses in the United Kingdom have a positive outlook, despite the recent economic difficulties. Out of 2,019 small business owners, 58 percent are feeling positive about the next six months. Many of the businesses are preparing to make necessary changes in their plans for the future, to enable them to deal with the effects of spending cuts and rising taxation.
A third of the business owners interviewed are considering the introduction of new products or services to boost business, while a third are considering expansion within the UK. Ten percent of business owners are considering international expansion, with over half believing that they are in a more stable position than in 2010. Almost half of the companies expect to see growth in the next six months, although most are not looking beyond six months to make changes. As the economy is undergoing dramatic changes, many businesses will be keeping a close eye on business continuity plans and future performance forecasts. A small business accountants will take on this duty, producing the statistics that will provide the base for future plans.
Although this survey shows that small businesses are optimistic for the future, it is essential that they keep ahead of all changes in legislation and taxation, to avoid attracting penalties and interest charges which will be a drain on resources. Online accounting provides a real time solution to your accounting requirements, allowing you to accurately plan for the future.
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
About The Author
Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.