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

Future Retirement Success

Business

UK SME plans to invest £321k to grow their business

by May 11, 2023
May 11, 2023
UK SME plans to invest £321k to grow their business

New research has revealed the investment and growth plans of SMEs in the UK. Despite the ongoing cost-of-living crisis, SMEs plan to spend an average of £321,000 on growth strategies over the next year. One in eight SMEs plan to spend over £1 million investing in growth.

A third of businesses want to expand their customer base and grow their current products and services in 2023, while also reducing costs to combat the cost-of-living crisis.

To reach their goals, business leaders plan to invest in their online presence. One in four SMEs will put money into improving or building websites and apps over the next year. This is in addition to investing in digital marketing.

Interestingly, following the ‘Great Resignation’ fears that saw SME-leaders prioritise talent spend in 2022, talent acquisition and increases to employee salary and benefits are likely to see the least investment over the next year.

Business leaders continue to put hands in their own pockets to invest

SMEs will often turn to business savings or various forms of business finance (e.g., asset finance – 11%) to meet their goals. However, nearly two out of five SMEs will turn to their personal savings and over one in ten will use their own overdraft to meet business costs.

Barriers to growth

Despite optimistic plans to invest heavily in the coming year, the biggest concerns SMEs are faced with are high energy costs and double-digit inflation rises. This will represent the biggest barrier to business growth in 2023.

Those concerned about inflation costs estimate it could lead to delays in existing projects, missed opportunities for growth, and difficulties securing new deals.

Tim Boag, group managing director of business finance at Aldermore said: “SMEs are the backbone of our business community and their ambitious growth plans over the next year bodes well for the economy, however they also face challenges brought about by high inflation and soaring energy costs.

“At Aldermore, we’ve supported SMEs through challenging times. It’s great to see from their plans that a digital presence for many has become a major priority, as consumer expectations have evolved post-pandemic.

“For business leaders, there are many sources of investment, be it utilising savings or accessing a range of specialist finance products; and at Aldermore we remain fully committed to backing businesses to realise their ambitions.”

Read more:
UK SME plans to invest £321k to grow their business

0
FacebookTwitterGoogle +Pinterest
previous post
Will a ban on cold calling make any real difference to the scam industry?
next post
Over half of UK gig economy workers earn below minimum wage

You may also like

Families Rush to Transfer Property Amid Fears of...

May 27, 2024

Chancellor urged to bolster UK’s late-stage entrepreneurs in...

February 28, 2025

UK tourism struggles with £2.8bn shortfall as visitor...

August 19, 2024

When Is the Best Time to Launch Products...

April 26, 2025

Development Bank of Wales joins Admiral Pioneer in...

October 12, 2022

Bank of England to stop government bond-buying scheme...

October 14, 2022

UK apprenticeship levy is a £3.5bn mistake, say...

February 6, 2023

Royal Mail and BT awarded £20m in lorry...

February 9, 2023

Conservatives Propose Cap on Migrant Visas Amid Election...

June 4, 2024

Eddie Jordan: The charismatic entrepreneur who shook up...

March 20, 2025

    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

    • Mitchell Geisler on Listening, Leadership and Business Growth

      August 23, 2025
    • 10 key takeaways from DOJ’s release of Ghislaine Maxwell’s Epstein interviews

      August 23, 2025
    • Jackson’s scathing dissent levels partisan charge at colleagues after high-profile ruling

      August 23, 2025
    • Starmer accused of betraying farmers as British food pledge stalls

      August 22, 2025
    • Fed rate cut looms after Powell’s Jackson Hole speech

      August 22, 2025
    • Tariff “Inclusion” Process Comes with High Costs, Absurd Outcomes, and Extra Cronyism

      August 22, 2025

    Categories

    • Business (8,858)
    • Investing (2,235)
    • Politics (16,465)
    • 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