SME growth barriers revealed

The research into why people would like to start their own business has given a picture of the driving forces behind entrepreneurs and their aims and desires. 

With the latest figures from the Department for Businesses, Innovation & Skills showing that 3.1m UK businesses are sole proprietorships and 99.9 per cent of businesses are in the SME category, how these companies fare is crucial to helping the economy continue to grow out of its slump.

It was also revealed that taking pride in owning your own business is a leading reason for going it alone, with one in four of people polled saying this is why they would start their own company.

However, despite the fact that there have been signs of a growing economy in the UK recently, 25 per cent of people surveyed would be unsure about starting their own business right now as they aren’t sure about the strength of the market.

Despite a more positive outlook within the UK economy recently, there are still many challenges remaining for SMEs. From financing to marketing, small and medium businesses need to consider all areas if they are to make the most of the growth opportunities that are now finally beginning to present themselves.

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By Shané Schutte

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