In what has been a chaotic 12 months, the financial pressures to stay open for business overwhelmed small business owners. Yet, what should have mounted and defeated many, in turn acted as a catalyst for strength and resilience. Many were able to innovate quickly to adapt to the restrictions enforced – launch new products and services onto the market, build their digital presence and generate new streams of income. Now, with light at the end of the tunnel, we wanted to understand how businesses are feeling about the future.
We’re pleased to report our findings are positive, which should deliver a real sense of pride to the UK SME market. Many reported being in a strong position for recovery and are looking optimistically to the 12 months ahead. The findings also come as the Bank of England upgrades its growth forecast to 7.25% for 2021 from 5%, in better-than-expected bounce back results.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.