Larger businesses more optimistic about the future compared to smaller businesses

– 67% of businesses with more than £5M turnover are projecting increased income.

– 46% of businesses with less than £250k turnover are expecting reduced income over the next 12 months.

Latest research from Forrester Boyd has found that over the coming 12 months 67% of larger businesses – those with a turnover of more than £5M – are projecting increases in their income. Conversely smaller businesses with turnover less than £250K are expecting reduced income whilst those with a turnover in excess of £1M – are also projecting increased income.

There are some notable differences in outlook by business structure, most notably for those in the charities / non-profit sector, projecting a much larger reduction in income in the coming 12-months.

The research, which was carried out across the UK in conjunction with the UK200Group, of which we are a member, revealed that smaller businesses have been hit more significantly than larger businesses. As well as income projections, smaller businesses are also less likely to be increasing their headcount than larger businesses.

The survey does reveal some more positive outlooks. Respondents were asked their top 3 priorities for their business over the next 12 months, the top 3 are:

– Looking after existing clients
– Finding new clients
– Growth

When asked the same question 6 months ago, businesses were more concerned with survival than growth.