Small businesses step up plans for overseas expansion
As the UK approaches the Brexit deadline, we asked small business leaders across the UK what they were doing over the summer to secure growth during a period of economic uncertainty. Almost two thirds of respondents told us they were maintaining a positive outlook and were working on summer initiatives to nurture growth. In additional one in five business owners said they were starting to look overseas so they could expand into new markets.
Overall, small businesses in real estate, IT/telecoms and manufacturing sectors were those most likely to be working on new business plans over the summer months, with the vast majority looking to improve their ability to control costs and cashflow. Small businesses in the agricultural, hospitality and construction sectors were most likely to be looking to invest in new equipment.