Time for businesses to plan ahead

A national study of small and medium businesses has found that 56 per cent of smaller businesses are slightly or very optimistic about the next year of trading.

The survey, conducted by the Daily Telegraph, YouGov and EasyJet, also showed that 52 per cent of businesses expect to grow up to 10 per cent in the next year and 15 per cent expect to grow between 10 and 20 per cent.

“This is good news because the majority of businesses in this area fit into the small and medium size category” said Stephen Payne, a director of Whitley Stimpson, one of the largest independent accountancy and business advisers in the M40 corridor, with offices in Bicester, Banbury and High Wycombe.

The news tied in with an independent Scale-Up Report, which tracks the growth of companies.

That report claimed that growing companies can have an immense impact on the economy, creating more jobs. But it pointed out that some small business owners are frustrated over the amount of red tape and other barriers against growth such as planning restrictions.

“If this area is anything to go by it will be the small and medium size businesses that continue to lead the buoyancy of the local economy” said Stephen.

“The news and the survey show that it is now time for those businesses to plan ahead.”

Companies can get business advice and support from Stephen Payne at Whitley Stimpson on 01869 252151 or on email stephenp@whitleystimpson.co.uk