Outlook better (and busier) for small businesses

A recent survey found that more small firms will be putting on a Christmas party for employees this year, however almost 1 in 3 SMEs has admitted they will also be busier than ever this festive season as they try to generate extra revenue before the year’s end.

In a survey conducted for office supplier Viking’s Small Business Barometer, 30% of SMEs said their biggest challenge for the remainder of the year will be generating additional revenue, while 75% of respondents said they will have to work extra hours in the run-up to Christmas in order to reach their end-of-year targets.

The Viking survey found that 3 in 4 small business owners intend to work as normal on Christmas Eve and also during the period between December 27 and January 1, with 66% predicting that they would miss out on quality time with friends and family as a result.

Positive outlook

While many SMEs face a stressful Christmas period, the outlook is more positive for next year with 80% of small business owners stating they are “not worried” about the economic future of their business and a further 60% expecting growth in 2014.

The majority (75%) of SMEs also reacted positively to Budget 2014, with the most popular initiatives including increased investment in training and technolofy (50%), business expansion (25%) and paying off debts (25%).

However, there was concern from SMEs about the increase in DIRT tax, a method deployed by Government to stimulate spending in the economy. 70% of small business owners dipped into their own savings to finance their start-up and 75% of those surveyed feared the DIRT tax increase would now deter people from starting up a business in the future.

Cullen Communications handles PR for Viking

Topics: outlook, sme, work, Client News, Research

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