Three-quarters of SMEs (75%) are confident that they will be able to access funding to grow their business over the course of 2018, according to a recent study.
This figure from the latest Aldermore Future Attitudes report represents an increase on the 63% recorded in Q4 2016.
Some 11% of SME bosses expected to see a significant increase in profits during the year, while more than two-fifths of small firms (42%) believed that their business revenues will increase over the next 12 months, compared with 39% in Q4 2016.
Carl D'Ammassa, group managing director of business finance at Aldermore, said: “It is encouraging to see that optimism among SME leaders is increasing, with attitudes towards business revenues staying positive for the next 12 months.
“SMEs make an essential contribution to the UK economy and with Brexit discussions progressing, their ability to obtain finance and help support the growth of the UK economy will be crucial.
“Planning can be a difficult task, but to ensure ongoing success, every business owner needs to have a vision for growth and an understanding of how they would like to get there.”
When asked what methods they would use to achieve increases in revenue, half of small firms (50%) planned to increase marketing efforts, almost two-fifths (39%) intended to launch new products or services, while a third (33%) said they would enter new markets.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Monese urges holidaymakers to shop around for their bank to save money abroad
Brits travelling abroad have been encouraged to save money by shopping around for bank accounts...
Tandem introduces healthy balance feature
Digital bank Tandem has announced the launch of a new healthy balance notification feature on its banking app...
The Access Bank UK joins Bacs
The Access Bank UK has been announced as the latest brand to join Bacs Payment Schemes Limited (Bacs)...
Nearly 75,000 SMEs supported through BBB programmes
The British Business Bank (BBB) has reported that the total stock of finance provided through its programmes in the last financial year rose by 33% to £12.25bn...
Close Brothers’ banking division reports 6.6% loan book growth
Close Brothers Group PLC has revealed that its banking division has seen a 6.6% growth in its loan book in the 11 months to 30th June 2018...
Leeds introduces two-year fixed rate BTL product
Leeds Building Society has launched a two-year fixed rate buy-to-let (BTL) mortgage product as part of a wider refresh of its 70% LTV BTL range...
Just 20% of Brits would opt for a challenger bank
Only 20% of UK residents would opt for a challenger bank if they were opening a new account today, according to research from Equifax...
Santander to form digital investment banking team
Banco Santander has announced that a new digital investment banking team will be formed within Santander Corporate & Investment Banking...
Metro Bank introduces developer portal
Metro Bank has launched a new developer portal for FCA-registered third parties wishing to build services on top of its APIs...
Wesleyan Bank appoints new head
Wesleyan Bank has appointed David Brownbill (pictured above) as its new head of indirect sales...
Arbuthnot announces profit surge
Arbuthnot Banking Group has reported a half-yearly profit before tax of £3.5m for the six months to 30th June 2018, up from the £2.5m recorded during the same period last year...