Business owners still delaying exits
Small to medium business owners are delaying exiting their businesses because of continuing economic uncertainty, according to new research released by major accounting firm RSM Bird Cameron.
The company’s fourth so-called 'thinkBIG benchmark study', which examines the fortunes and sentiment of small to medium enterprises (SMEs), found owners were reasonably optimistic about their businesses’ medium —term prospects but remained concerned about cash flow management and continued to be more aware of the stress associated with managing their businesses.
It said that more than half of the business owners surveyed did not expect to see any improvement in the availability of finance in the short term, something that underlined continuing uncertainty in the sector.
RSM Bird Cameron business solutions director Terry Rodoni said the survey found that business owners had faced tougher trading conditions over the past two years, with nearly a third recording no revenue growth or a decline in revenues.
On a more positive note, the survey revealed that there were modest signs of a more optimistic outlook over the next 12 months, with fewer SME owners expecting to reduce personal drawings and fewer expecting to reduce staff.
However, it noted that nearly a third of owners were not sure whether their business would grow over the next two years or did not believe it would grow.
AUTHOR
Mike Taylor
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