According to the KPMG poll of 1,500 companies, 92% of business owners are optimistic about growth in 2025, despite existing economic challenges. Much of this confidence stems from expectations of rising demand both domestically and internationally, suggesting a readiness to explore new products and markets.
As stated by Euan West of KPMG, the private enterprises are showcasing resilience despite a turbulent 2024. He noted, 'It’s encouraging to see private businesses showing resilience and casting a positive outlook for 2025 and beyond.' However, he warned that challenges would persist in the coming year.
Aviva's survey indicates that 89% of SMEs are confident about the year ahead. Furthermore, 85% of these respondents foresee increased business activity in five years, highlighting a long-term optimistic trend in the prospect of growth amongst SMEs.
Despite concerns over rising national insurance contributions and minimum wage, over one-third of companies in KPMG’s survey anticipate profit margin squeezes. Nevertheless, most plan to invest in technology, specifically artificial intelligence, to enhance efficiency and counteract cost increases.
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