Small UK Businesses Gear Up for a Growth‑Fueled 2025
In a world that’s turning faster than a coffee cup, a staggering 81% of small businesses in the UK are setting their sights on new initiatives to supercharge their growth this coming year. They’re not just dreaming—they’re planning, and the numbers are as bold as a summer sunrise.
What’s Driving The Momentum?
- New sales galaxies: 43% are all about boosting their customer base.
- Cutting the rubber band: 24% want to trim fixed costs and tighten financial reins.
- Hiring hesitancy: Only 7% are eyeing senior hires for 2025, and a mere 9% are looking to bring in young talent they can train from scratch.
So while the breathable breeze of hiring is calm, the winds of sales and cost‑control are roaring.
Where the Growth Lurks
At a national level, 35% of small businesses are riding a quarterly growth wave—a figure that’s broke a two‑year high since July 2024. This isn’t just a passing trend; it’s a signal that the entire landscape is bracing for a resilient finish to 2024.
Regional Hotspots
- London: A whopping 94% are planning to invest in growth projects.
- West Midlands: 83% are in the same growth‑train.
- North East: Also 83% with a gleam of optimism.
These regions aren’t just riding high—they’re the very same ones that saw a swell in growth forecasts this quarter.
Industry‑specific Firepower
- Media: 92% gearing up for new projects.
- Manufacturing: 90% on the growth bandwagon.
Across five verticals—including manufacturing, construction, retail, media, and agriculture—there’s a consistent year‑on‑year uptick.
The Financial Playbook for 2025
More than two in five (42%) are determined to increase new business income, and one in five (20%) plans a breakthrough strategy by diversifying products and services. There’s a sober taste of financial prudence woven throughout the plans:
- Digging deeper into cost reductions.
- Building robust financial reserves.
Insights From the Front Lines
Joanna Morris, Head of Insight at Novuna Business Finance, says, “While many eyes were glued to the Autumn Budget, our data revealed a different picture—86% of owners were worried, yet the evidence shows a resilient finish to 2024. Growth forecasts have hit a two‑year high, and a surge of businesses are already prioritizing growth projects. We’re on it, helping these firms reach their true potential—so the confidence built in 2024 can carry into 2025.”
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