CEOs of UK small businesses are, in the main, optimistic when it comes to business growth. 70 per cent anticipate an increase in sales revenue and more than 50 per cent expect to take in new staff in the next 12 months, claims a new study. This bodes well for graduates and professionals seeking to apply for business continuity vacancies, information risk jobs and other roles that will need to be filled in SMEs.
Vistage, the chief executive peer group, published the CEO Confidence Index after surveying 350 CEOs based in the UK and Ireland regarding their opinions on performance and growth over the next year. The study further revealed that 53 per cent of CEOs surveyed expected that profits would see an improvement in the next year.
Chief executive of Vistage, Steve Gilroy, said of the study:
“It’s encouraging to see SMEs expressing optimism regarding business growth, but there are causes for concern. The last few years have created a new business landscape that is volatile and unpredictable.
“Key to success is fresh business thinking and collaboration. SMEs must share ideas and take bold actions in order to survive and succeed.”
A number of other CEOs have also expressed concern regarding the current financial climate, with more than a third feeling that the situation has declined during the past 12 months. Furthermore, 25 per cent of business leaders believe that it will continue to worsen next year. There were significant variations shown from sector to sector, with 25 per cent from the education sector anticipating a sales revenue increase and 71 per cent holding that belief in the engineering industry.