Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

A Happy New Year for UK’s optimistic SMEs, as British business resolve to expand abroad

by January 4, 2023
January 4, 2023
A Happy New Year for UK’s optimistic SMEs, as British business resolve to expand abroad

UK’s SME’s are feeling optimistic about 2023, despite rising costs, according to new research commissioned.

The independent research, which saw Censuswide poll more than 1,000 SMBs nationwide, finds that 55% of British SMBs are optimistic about the year ahead, while only 20% feel pessimistic.

In fact, 53% even said 2022 has been good for business despite its challenges.

Businesses identified two major, linked challenges: two thirds expect business costs to increase in the year ahead, and most are feeling the impact of rising energy costs. yet they have plans to face the year ahead.

For many of us, the New Year is a time to commit to personal growth, whether that means running more, drinking less or trying a new hobby. Similarly, SMEs are planning to grow in the year ahead: 37% will increase their range of products and services, 29% will invest in their online presence and 26% plan to cut costs. .

And many are looking to enter new markets, with these businesses most interested in expanding their presence in the EU and North America, with others looking to East Asia and the Middle East.

All resolutions face hurdles, such as that tempting box of chocolates hidden above the fridge, and for SMEs it’s no different. SMEs are put off from expanding abroad for all manner of reasons, including inflation, regulation, energy costs and supply chain disruption.

However, the most cited deterrent is perhaps surprising. Almost a quarter of British SMEs are put off from expanding abroad by the cost and inconvenience of international banking services.

Clara Nobre, Head of Wise Business, said: “It can be easy to feel pessimistic about the world – yet there is a reason British SMEs are optimistic about the year ahead. They have survived multiple tough years and unexpected events and are now looking ahead to a year of growth and investment.

“Overseas expansion offers numerous opportunities – new customers, new staff, new supply chains – and can be a real boon to a small business. It is unacceptable that banks stifle this with their poor, under-invested services. At Wise Business, we believe that small businesses deserve better.”

Wise Business aims to help those SMEs that are looking overseas for 2023. Wise Business’s international banking services are fast, affordable, transparent and convenient. Today, Wise Business has more than 400,000 active customers worldwide.

Read more:
A Happy New Year for UK’s optimistic SMEs, as British business resolve to expand abroad

0
FacebookTwitterGoogle +Pinterest
previous post
UK home energy bills could be lower than expected after drop in wholesale market
next post
Andy Biggs says ‘DC Cartel’ must end as Republicans continue negotiations for speakership

You may also like

4 Cost-Effective Marketing Ideas Using Stickers for Businesses

November 8, 2024

Small businesses lose out on over £43k a...

November 3, 2023

40,000 UK SMEs seek finance as spiralling costs...

September 13, 2022

Jaguar to repurpose used EV batteries for Northamptonshire...

August 23, 2023

Wealthy Britons disillusioned with uk’s business environment, survey...

July 3, 2024

Top-Rated Casinos Not on Gamstop: Your Ultimate Guide

August 6, 2024

UK energy secretary could get power to fast-track...

November 16, 2023

Mini Budget: UK needs inclusive economic growth, not...

September 23, 2022

Hived raises $42m to roll out electric delivery...

July 5, 2025

How to Feel at Home: Tips to Blend...

July 22, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Junk food banned from SNAP benefits in 6 more states, a win for MAHA advocates

      August 7, 2025
    • DOJ turns to Gabbard’s office for next step in grand jury probe of alleged Russiagate conspiracy

      August 6, 2025
    • New Romanian law may have averted NATO clash with Russia after border strikes

      August 6, 2025
    • Violent attack reignites BOWSER Act debate as Trump floats federal takeover of DC

      August 6, 2025
    • Senate hopefuls jostle for high-stakes seat after Blackburn jumps into governor race

      August 6, 2025
    • Tracking the Health of the Private School Sector

      August 6, 2025

    Categories

    • Business (8,691)
    • Investing (2,179)
    • Politics (16,329)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved