Small business bank accounts prepare for growth in 2012

In excess of 80 per cent of small business bank account holders are preparing to experience growth in 2012, according to newly released research findings.

HSBC’s commercial banking division, which conducted the research survey of 1,000 small and medium-sized companies, indicated that approximately 14 per cent of businesses have begun to trade on an international level in order to encourage growth.  Moreover, 57 per cent of SMEs have expectations that their turnover will increase, the survey found.

One out of every five businesses reported looking into remaining competitive in their chosen markets, while an almost identical number of respondents indicated that they have hopes to invest in new equipment in order to facilitate business growth – something that may require taking out business loans from a high street provider.  HSBC UK’s commercial banking had, Jacques-Emmanuel Blanchet, was encouraged to see SMEs in the UK optimistic about the coming 12 months about their ability to achieve positive growth or even to achieve status as market leaders.

Federation of Small Businesses national chairman, John Walker, also commented, stating that firms will be presented with many ‘golden opportunities’ for business growth in the coming year, such as the beneficial opportunities to diversify and expand in the face of the Queen’s Jubilee and the Summer Olympic Games.  However, Mr Walker, who spoke from a conference in New York, also said that SMEs need aid in order to help solving the country’s economic crisis, adding that job creation will be key going forward over the next 12 months.

The past year has seen unemployment rise continually, the national chairman commented, with the number of Brits claiming Jobseekers Allowance rising continually over the past six months to 1.6 million. This issue needs to be addressed as quickly as possible, Mr Walker concluded.

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