Need a summary of our new Steps to Growth report on doing business in the UK? Our Slideshare breaks down the major findings and stats.

1. Steps to Growth:
AMBITION
Part 1 of a comprehensive survey of owner-managed businesses in the UK

2. We spoke to 300 owner-managed businesses, from
a range of sectors and geographical regions, about
their growth ambitions over the next 12 months

3. SIZE OF COMPANY IN NUMBER OF EMPLOYEES
Fewer than 10
10-50
51-250
250-500
More than 500
1%
14%
55%
22%
8%

4. PRIMARY SECTOR
Hotels/Leisure
Healthcare
Recruitment
Manufacturing
Construction
Waste Management
Professional services
14%
15%
14%
14%
16%
13%
14%

5. Confidence among owner-managed
businesses in the UK is high
CONFIDENCE BAROMETER

6. CONFIDENCE BAROMETER
Will be in a stronger financial
position in a year’s time
Will be the same Worse off
73%
24%
3%

7. Owner-managed businesses in recruitment and construction
are especially positive about the future
Recruitment Construction
74% 61%
74% and 61% respectively said their
best years are still ahead

8. Have a strong appetite
for growth and a plan in
place to make it happen
Open to growing
but don’t have a
plan in place
Reluctant to grow because
we are functioning well
as we are
32% 34% 27%
THE AMBITION INDEX
Measuring Attitudes to Growth

9. 7%
Only 7% of companies are actively
trying not to grow
THE AMBITION INDEX
Measuring Attitudes to Growth

10. of London businesses
said they have a strong
growth plan
of Midlands companies said
they were functioning well
as they are
of Scottish businesses
described themselves
as open to growth
30%
51%
53%

11. PREFERRED CHOICE OF FUNDING
FOR FUTURE GROWTH
45% 30% 20%
Bank
Funding
Private
Equity Funds
Alternative
Sources

12. Faith in the Big Banks has been
undermined because the service they
offer has become so impersonal
“
”- Mark Medd, Regional Director for London North
and West, Allied Irish Bank (GB)

13. Not Confident Very Confident54321
45%
17%
were not at all confident that
big banks would understand
their financing needs
said they were confident or
very confident that big banks
would understand their business
financing needs

14. NEWER BUSINESSES ARE MORE OPEN
TO ALTERNATIVE FINANCE
of businesses launched in the past five years are
planning to approach either crowd-funding
websites or angel investors to fund their growth
55%

15. MANUFACTURING IS MORE TRADITIONAL
intend to rely on
bank funding
73%

16. HOTELS/LEISURE BUSINESSES ARE MOST LIKELY TO
FINANCE GROWTH FROM RETAINED PROFITS
said they would
self-fund their
expansion
10%

17. 82%of companies anticipate making
new hires within the next year
GROWTH AGENTS

18. 53% 20% 17%
Anticipate their workforce
will grow by 0-24%
Anticipate growing
by 25-51%
Anticipate
downsizing
GROWTH AGENTS

19. are likely or very likely to
open new locations or offices16%

20. 65%
49%
COMPANIES EXPECT TO GROW BY:
Expanding the
customer base
Cost
reduction
via better
operating
efficiency

21. INNOVATION IS KEY
76% 0%
said it was either at the heart
of their growth strategy or
crucial enough to receive
investment
said it was
not at all
important

22. INNOVATION PARTICULARLY IMPORTANT
IN MANUFACTURING AND RECRUITMENT
RecruitingManufacturing
90% 81%

23. PRIMARY GROWTH PLAN
Sell more
to existing
customers
Offer more
premium
products/
services
Recruit new
customers
35%35%
30%

24. HOW OWNER-MANAGED BUSINESSES WILL
INVEST IN THE NEXT 12 MONTHS
Hiring New Staff
Capital Improvements
Marketing
43%
27%
82%

25. 72% of respondents said they are unlikely
to change their business strategy

26. MOST IMPORTANT MEASURE OF GROWTH
30%
25%
20%
15%
10%
5%
28%
24%
23%
Increase in
market share
Number of
customers
Total
Revenue

27. MOST IMPORTANT MEASURE OF GROWTH
30%
25%
20%
15%
10%
5%
28%
24%
23%
Total
Revenue
Increase in
market share
Number of
customers
Just 17% of
owner-managed
businesses rank
profit as the key
growth metric
17%

28. To read the Steps to Growth Report in full go to:
bit.ly/steps-to-growth
Features include:
Survey of 300 business leaders across Britain about trends, sentiments
and opportunities around growing their business in 2016 and beyond
Editorial on topics including growth strategies, business innovation and growth metrics
Article from the Confederation of British Industry (CBI)
Interview with Lord Digby Jones