SMEs 'are failing to plan ahead'

 

Small and medium-sized enterprises (SMEs) need to be organised if they want to be successful.

 

 

Typically, businesses of this size will be run along tight margins and so the ability to be forward-thinking is essential.

 

That’s why I’m disappointed and surprised to see that 57 per cent of SMEs are only planning between six and 12 months into the future.

 

Research by npower has discovered the reluctance many companies are demonstrating when it comes to looking into the future, primarily because of the economic uncertainty in the country at present.

 

Phil Scholes, SME markets director at npower, stated firms may want to fix some overheads in an effort to bring a degree of certainty to their outgoings.

 

Ultimately, the government needs to introduce a series of incentives that will help small firms to grow, whether it is reducing red tape, giving tax breaks or providing low-cost loans.

 

Posted by the Secret Businessman