The latest Scottish Pacific SME Growth Index, by Scottish Pacific Business Finance, indicates that more than 53 per cent of businesses believe they will grow in the first half of 2019. Do you plan to be among them?
Marcus Gray, (pictured left) State Sales Manager QLD/NT with Scottish Pacific Business Finance, explained that the number of businesses expecting to grow has increased from six months ago at 51 per cent according to its SME Growth Index and is now the highest it has been since the first half of 2016.
The SME Growth Index is an independent research study undertaken on our behalf by East & Partners who poll a representative cross section of 1,257 SME owners, CEOs or senior finance staff across Australia, and the latest index was released in early April.
“The Index also found of the 791 SMEs planning to invest in business growth in the next six months, 11 per cent had no concrete strategy in place as to how they’ll execute their plan,” Gray explained.
“The first SME Growth Index was done in 2014 and is completed twice per year. The latest Index released on 11 April shows that total revenue projections, when you combine growth and non-growth SMEs, have more than doubled year-on-year since 2016 from 0.7 per cent to 1.8 per cent.
“Yet there remains considerable headroom to reach the record high all-SME growth forecast of 4.9 per cent notched in the first I