- 14 Mar
Businesses Need Â£43.2K Funding To Grow More Than 14.6% This Year
A while back we reported the results of our research study amongst 100 randomly selected SME businesses. They said that on average they expected to grow by 14.6% over the next 12 months.
We then asked them how much additional funding they would need within their business to exceed their projected growth figures. On average they said they would need an additional £43,200 of additional funding in order to grow beyond the 14.6% growth projection.
The interesting deduction from these findings is that with the benefit of additional funding all the businesses interviewed stated a figure (ranging from£5,000 up to £250,000) for the additional funding that would enable additional growth. This suggests that a lack of access to adequate funding is curtailing business growth in the UK.