subscribe to our newsletter
Further growth forecast for SMEs

Further growth forecast for SMEs

The majority of small and medium-sized enterprises are expecting to grow over the next 12 months, according to accounting firm RSM Bird Cameron.

In the group’s thinkBIG 2015 report, 68 per cent of business owners stated they anticipate growth, compared to 64 per cent in 2014.

The report revealed that 49 per cent of SME owners reported growth over the last 12 months, up 3 percentage points from last year, while 16 per cent reported a decline in revenue compared to 20 per cent last year.

“Business owners are cautiously optimistic about the medium-term prospects for their business,” according to national head of business solutions Andrew Graham.

“When looking at the results over the past few years, we can see, however, that the optimism is not always realistic.

“When comparing expected growth with achieved growth, there is a clear gap,” he noted.

Of those surveyed, 40 per cent of SME owners said their business growth is expected to come through increased sales in the current pipeline.

The survey also found that 26 per cent expect growth to come from new markets, 20 per cent from the launch of new products or services and 20 per cent from expansion.

“The most successful businesses will be those that address the rapidly changing sales environment by recognising growth opportunities, ensuring due diligence and financing is appropriate, and engaging their workforce to drive productivity,” Mr Graham said.

Further growth forecast for SMEs
mortgagebusiness logo

Latest News

The Australian Banking Association has revealed that it has made further changes to its new draft Code of Banking Practice, which has been s...

The ASX has begun calculating the Bank Bill Swap Rate (BBSW) using a new methodology that puts a greater emphasis on trade activity. ...

The major bank’s approval of a $160,000 business loan guaranteed by an elderly blind woman has been grilled by the royal commission. ...

Promoted Stories

podcast

LATEST PODCAST: Macquarie merger, WA property tax and AMP staff haemorrhage

Do you expect access to credit to get harder this year?