More details: Visit websiteMore than eight in ten (81%) UK small businesses are prioritising new initiatives to boost their overall growth prospects for 2025.
Increasing new business sales (43%) and reducing fixed costs (24%) are priority areas business owners want to focus on – but there's also evidence the recent changes to employers' National Insurance could significantly impact hiring plans for 2025.
Nationally, only 7% of small businesses surveyed are prioritising making senior hires for 2025 – and only 9% of small business owners plan to hire young people that they can train and develop.
The findings are from the quarterly Business Barometer study by Novuna Business Finance, and the new data suggests the firm resolve by small businesses to invest in business development for 2025 follows resilient growth forecasts for this current quarter.
Nationally, the percentage of small businesses experiencing quarterly growth stands at 35%, as the period since July 2024 represents a two-year high in small business growth forecasts.
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