UK SMEs concentrate on local growth

The Mail reports on new research indicating that the UK’s smallest businesses are prioritising local growth over international expansion. According to Zempler Bank, 27% of these businesses prefer regional development. Only 12% said their main goal was to expand internationally. Interestingly, while 54% of businesses expect modest growth, 24% have no ambition to grow.

It is noted that while some small businesses could be hit by increases to statutory sick pay and parental pay, most will be shielded from changes to National Insurance contributions.

iBOSS Comment:

The question is whether those that aren’t shielded have the ability to handle these additional costs? Can they absorb them or pass them on to customers in the way that larger firms can? If this applies to your business and you need independent advice then contact us at phil@theiboss.co.uk for a free consultation and to explore options.