Prospects for marketing and advertising are looking good after a study found that nearly half of smaller firms expect growth in 2013.

Research from The Co-operative Bank has revealed that 44% of SMEs believe their sales and orders will rise next year. 

The findings also show that one in four (26%) businesses anticipate growth in international orders.

Around a quarter (23%) of senior decision makers saying they expect to invest in their company through, for example, new equipment or premises improvements.

More than one in five (22%) said they plan to expand their workforce through new recruitment drives.

Keith Alderson, managing director of Corporate and Business Banking at The Co-operative Bank, said: “SMEs and entrepreneurs are widely acknowledged as vital to Britain’s economic recovery so these results are good news as we head in to 2013.

“As the curtain closes on another tough year it seems many SMEs are now looking forward with a cautious sense of optimism about the challenges for their businesses next year.

“We see this entrepreneurial spirit day-in, day-out in our dealings with customers and I’m not surprised that SMEs are adapting and exploring new markets to overcome the economic challenges.”

Uncertainty in the economy was the main worry, with 76% citing it as a major challenge. Cashflow was regarded as the next main issue for 37% of SMEs, followed by red tape/ regulation for 27%. A further 26% were most concerned about the impact of rising energy costs, while 16% cited support from banks as their main worry next year.

Of the industries surveyed the financial services and accountancy sector (58%) and media/marketing/advertising (64%) companies are most confident about growth in 2013. 

Posted by

Smarayda Christoforou