For many, this week will have been the first back after the Christmas break, during which many small business owners will no doubt have pondered what the New Year has in store.
Few will have spent too much time mourning 2011’s passing but, realistically, many know 2012 is very likely to pose similar challenges and difficulties for small business.
There’s no doubt entrepreneurs will have to continue to show courage and creativity in the face of economic adversity. Of course, they will also need enterprise policies that free them to grow and create jobs.
The continuing scarcity of affordable credit, rising late payments, mounting business costs and turmoil in the eurozone – all headline features of last year – will certainly continue to be a barrier to business, sapping both cash flow and confidence. The perennial problems of tax and red tape almost need no mention.
Clearly 2012 could be just as challenging as its predecessor, and if a ‘double dip’ recession materialises like some forecaster are predicting, there’s the chance it could even be worse. That’s why it’s vital there must be the correct conditions in place to fuel small business growth, whether the UK returns to recession or not.
But while media reports, by and large talk down the economy and suggest confidence is low, recent research of our members highlights optimism continuing to bubble away among small business owners despite the doom and gloom. Before Christmas we asked businesses who joined our Get Britain Trading campaign for their thoughts and hopes for 2012 and, perhaps surprisingly, 55% of respondents said they were expecting to see growth in the coming year.
Further, 95% said they were looking to develop their business, with 17% saying they would be looking to new customers overseas to enable growth – suggesting the eurozone crisis has not served to put firms off exporting.
Some businesses even reported stronger orders and turnover compared to this time last year. Just five per cent of businesses do not anticipate doing anything to develop their business in 2012 – sharp contrast from a year ago when 10% said this. So it’s clear, there has been movement in the right direction, in attitudes if nothing else.
So while 2012 will be tough for most, trading continues apace, and we must all remember that there is a future beyond the ‘age of austerity’.
As the New Year starts, the Forum is preparing to re-energise our popular Get Britain Trading campaign for 2012, and there will be a special event in Westminster this spring to announce all of our plans for GBT.
Anyone who wants to join and support our campaign can do so by visiting www.getbritaintrading.co.uk
