AIB GB Steps to Growth: Part 1 of a comprehensive survey of owner-managed businesses in the UK
-
Upload
conversocial -
Category
Business
-
view
365 -
download
0
Transcript of AIB GB Steps to Growth: Part 1 of a comprehensive survey of owner-managed businesses in the UK
We spoke to 300 owner-managed businesses, from a range of sectors and geographical regions, about
their growth ambitions over the next 12 months
SIZE OF COMPANY IN NUMBER OF EMPLOYEES
Fewer than 10
10-50
51-250
250-500
More than 500
1%
14%
55%
22%
8%
PRIMARY SECTOR
Hotels/Leisure
Healthcare
Recruitment
Manufacturing
Construction
Waste Management
Professional services
14%
15%
14%
14%
16%
13%
14%
CONFIDENCE BAROMETER
Will be in a stronger financial position in a year’s time
Will be the same Worse off
73%
24%3%
Owner-managed businesses in recruitment and constructionare especially positive about the future
Recruitment Construction
74% 61%
74% and 61% respectively said their best years are still ahead
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 INDEXMeasuring Attitudes to Growth
7%
Only 7% of companies are activelytrying not to grow
THE AMBITION INDEXMeasuring Attitudes to Growth
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%
PREFERRED CHOICE OF FUNDINGFOR FUTURE GROWTH
45% 30% 20%
Bank Funding
Private Equity Funds
AlternativeSources
Faith in the Big Banks has beenundermined because the service they
offer has become so impersonal
“
”- Mark Medd, Regional Director for London North
and West, Allied Irish Bank (GB)
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
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%
HOTELS/LEISURE BUSINESSES ARE MOST LIKELY TO FINANCE GROWTH FROM RETAINED PROFITS
said they would self-fund their expansion
10%
53% 20% 17%
Anticipate their workforcewill grow by 0-24%
Anticipate growingby 25-51%
Anticipate downsizing
GROWTH AGENTS
65%
49%
COMPANIES EXPECT TO GROW BY:
Expanding the customer base
Cost reduction via better operating efficiency
INNOVATION IS KEY
76% 0%said it was either at the heart
of their growth strategy or crucial enough to receive
investment
said it wasnot at allimportant
PRIMARY GROWTH PLAN
Sell more to existing customers
Offer more premium products/
services
Recruit new customers
35%35%
30%
HOW OWNER-MANAGED BUSINESSES WILLINVEST IN THE NEXT 12 MONTHS
Hiring New Staff
Capital Improvements
Marketing
43%
27%
82%
MOST IMPORTANT MEASURE OF GROWTH
30%
25%
20%
15%
10%
5%
28%
24%
23%
Increase in market share
Number of customers
TotalRevenue
MOST IMPORTANT MEASURE OF GROWTH
30%
25%
20%
15%
10%
5%
28%
24%
23%
TotalRevenue
Increase in market share
Number of customers
Just 17% of owner-managed businesses rank profit as the key growth metric
17%
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