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SME Data Hub

Each quarter 1,000 UK SME owners across a range of sectors, regions and sizes, are surveyed by specialist independent researcher, Kantar, on Close Brothers’ behalf.

Use the drop-downs to select a year and quarter to look at the data we collected at that time.

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Q3 2021

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Outlook

37

%

of businesses expect to expand in the coming 12 months, despite prevailing economic conditions

Summary

Published March 2021

Planning for the future is critical to a firm’s long-term prospects. Our research looks at owners’ economic outlook; how they expect their business to perform in the coming 12 months, and what their main concerns and priorities are.

Questions

How would you best describe your business's current economic outlook?

Confident that the economy will continue to grow 39%
The worst is behind us but it will be a slow path to prosperity 32.8%
The worst is behind us but I'm concerned that the economy could decline again 16%
I don't think there is any true economic growth 7.7%
The economy is worsening 4.6%
Don't know 0%
Confident that the economy will continue to grow 41.7%
The worst is behind us but it will be a slow path to prosperity 32.9%
The worst is behind us but I'm concerned that the economy could decline again 14.2%
I don't think there is any true economic growth 7.7%
The economy is worsening 3.6%
Don't know 0%
Confident that the economy will continue to grow 35.9%
The worst is behind us but it will be a slow path to prosperity 35%
The worst is behind us but I'm concerned that the economy could decline again 16.4%
I don't think there is any true economic growth 6.9%
The economy is worsening 5.8%
Don't know 0%
Confident that the economy will continue to grow 26.6%
The worst is behind us but it will be a slow path to prosperity 26.3%
The worst is behind us but I'm concerned that the economy could decline again 18.6%
I don't think there is any true economic growth 13.2%
The economy is worsening 15.3%
Don't know 0%
Confident that the economy will continue to grow 22%
The worst is behind us but it will be a slow path to prosperity 31.5%
The worst is behind us but I'm concerned that the economy could decline again 17%
I don't think there is any true economic growth 12.7%
The economy is worsening 16.9%
Don't know 0%
Confident that the economy will continue to grow 37.9%
The worst is behind us but it will be a slow path to prosperity 29.8%
The worst is behind us but I'm concerned that the economy could decline again 15.9%
I don't think there is any true economic growth 11.1%
The economy is worsening 5.3%
Don't know 0%
Confident that the economy will continue to grow 35.7%
The worst is behind us but it will be a slow path to prosperity 26.7%
The worst is behind us but I'm concerned that the economy could decline again 17.9%
I don't think there is any true economic growth 12%
The economy is worsening 7.8%
Don't know 0%
Confident that the economy will continue to grow 36.2%
The worst is behind us but it will be a slow path to prosperity 26.8%
The worst is behind us but I'm concerned that the economy could decline again 17.1%
I don't think there is any true economic growth 12.6%
The economy is worsening 7.4%
Don't know 0%
Confident that the economy will continue to grow 36.4%
The worst is behind us but it will be a slow path to prosperity 29.1%
The worst is behind us but I'm concerned that the economy could decline again 17.5%
I don't think there is any true economic growth 12%
The economy is worsening 5%
Don't know 0%
Confident that the economy will continue to grow 32.8%
The worst is behind us but it will be a slow path to prosperity 31.6%
The worst is behind us but I'm concerned that the economy could decline again 16.9%
I don't think there is any true economic growth 12.4%
The economy is worsening 6.3%
Don't know 0%
Confident that the economy will continue to grow 32.2%
The worst is behind us but it will be a slow path to prosperity 32.1%
The worst is behind us but I'm concerned that the economy could decline again 19%
I don't think there is any true economic growth 10.9%
The economy is worsening 5.8%
Don't know 0%
Confident about the steady recovery of the economy 20.5%
The worst is behind us but it will be a slow path to prosperity 25.1%
The worst is behind us but I'm concerned that the economy could decline again 20%
I don't think there is any true economic recovery yet 22.4%
The economy is worsening 12%
Confident about the steady recovery of the economy 18.9%
The worst is behind us but it will be a slow path to prosperity 21.5%
The worst is behind us but I'm concerned that the economy could decline again 13.7%
I don't think there is any true economic recovery yet 15.6%
The economy is worsening 8.2%
Don't know 22.2%
Confident about the steady recovery of the economy 20.2%
The worst is behind us but it will be a slow path to prosperity 29.3%
The worst is behind us but I'm concerned that the economy could decline again 20.8%
I don't think there is any true economic recovery yet 21%
The economy is worsening 8.6%
Confident about the steady recovery of the economy 17.6%
The worst is behind us but it will be a slow path to prosperity 26.9%
The worst is behind us but I'm concerned that the economy could decline again 23.7%
I don't think there is any true economic recovery yet 21.9%
The economy is worsening 10%
Confident about the steady recovery of the economy 19.5%
The worst is behind us but it will be a slow path to prosperity 30.8%
The worst is behind us but I'm concerned that the economy could decline again 26.1%
I don't think there is any true economic recovery yet 18.4%
The economy is worsening 5.2%

In general, how do you expect your business to perform over the next 12 months?

Expand 36.3%
Stay the same 51.7%
Contract 9.8%
Close down 2.2%
Don't know 0%
Expand 38.7%
Stay the same 51.9%
Contract 8%
Close down 1.4%
Don't know 0%
Expand 38.3%
Stay the same 50.6%
Contract 8.6%
Close down 2.6%
Don't know 0%
Expand 26.6%
Stay the same 49.7%
Contract 21.4%
Close down 2.3%
Don't know 0%
Expand 24.3%
Stay the same 49.8%
Contract 23.5%
Close down 2.3%
Don't know 0%
Expand 37.2%
Stay the same 54.2%
Contract 7.4%
Close down 1.1%
Don't know 0%
Expand 35.9%
Stay the same 54.1%
Contract 7.9%
Close down 2.1%
Don't know 0%
Expand 34.2%
Stay the same 56.3%
Contract 7.9%
Close down 1.7%
Don't know 0%
Expand 37.8%
Stay the same 54.2%
Contract 6.8%
Close down 1.1%
Don't know 0%
Expand 32.8%
Stay the same 57.8%
Contract 7.7%
Close down 1.8%
Don't know 0%
Expand 34.7%
Stay the same 56.7%
Contract 6.7%
Close down 1.9%
Don't know 0%
Expand 16.3%
Stay the same 53.5%
Contract 9.2%
Close down 3.3%
Don't know 17.7%
Expand 16.7%
Stay the same 51.7%
Contract 8.7%
Close down 2.8%
Don't know 20.1%
Expand 21.7%
Stay the same 55.1%
Contract 9.5%
Close down 2.3%
Don't know 11.3%
Expand 18%
Stay the same 57.1%
Contract 9.1%
Close down 1.8%
Don't know 14%
Expand 21.4%
Stay the same 57.2%
Contract 8.8%
Close down 1.5%
Don't know 11%
Expand 23.2%
Stay the same 57.1%
Contract 9.6%
Close down 1.5%
Don't know 8.5%

What is your main business concern?

Cash flow 29.1%
Finding extra working capital 11.7%
Late payments 15.4%
Lack of skilled staff 14.1%
Tax / VAT 5.9%
Bank charges 3.8%
Access to good financial advice 3.7%
Managing expansion 5.9%
Competitors 10.4%
Other 0%
None 0%
Cash flow 31.2%
Finding extra working capital 9.2%
Late payments 13.8%
Lack of skilled staff 10.4%
Tax / VAT 4.7%
Bank charges 4.8%
Access to good financial advice 4.4%
Managing expansion 7.6%
Competitors 13.9%
Other 0%
None 0%
Cash flow 35.2%
Finding extra working capital 11.7%
Late payments 10.7%
Lack of skilled staff 8.4%
Tax / VAT 6.6%
Bank charges 2.4%
Access to good financial advice 4%
Managing expansion 6.7%
Competitors 14.3%
Other 0%
None 0%
Cash flow 38%
Finding extra working capital 11.2%
Late payments 13.8%
Lack of skilled staff 6.7%
Tax / VAT 3.8%
Bank charges 4.1%
Access to good financial advice 5%
Managing expansion 6%
Competitors 11.4%
Other 0%
None 0%
Cash flow 36.8%
Finding extra working capital 10.1%
Late payments 14.5%
Lack of skilled staff 7.4%
Tax / VAT 5%
Bank charges 2.9%
Access to good financial advice 3%
Managing expansion 6.4%
Competitors 13.8%
Other 0%
None 0%
Cash flow 28%
Finding extra working capital 11.6%
Late payments 15.2%
Lack of skilled staff 10.1%
Tax / VAT 6%
Bank charges 3.8%
Access to good financial advice 2.7%
Managing expansion 8.4%
Competitors 14.2%
Other 0%
None 0%
Cash flow 30.5%
Finding extra working capital 10.7%
Late payments 14.3%
Lack of skilled staff 11.7%
Tax / VAT 6.7%
Bank charges 2.9%
Access to good financial advice 2.7%
Managing expansion 6.2%
Competitors 14.2%
Other 0%
None 0%
Cash flow 25.8%
Finding extra working capital 9.6%
Late payments 14%
Lack of skilled staff 14.4%
Tax / VAT 8%
Bank charges 3.8%
Access to good financial advice 2.7%
Managing expansion 5.9%
Competitors 15.8%
Other 0%
None 0%
Cash flow 28.6%
Finding extra working capital 11%
Late payments 12.9%
Lack of skilled staff 12%
Tax / VAT 8.5%
Bank charges 4.1%
Access to good financial advice 3%
Managing expansion 5.7%
Competitors 14.2%
Other 0%
None 0%
Cash flow 25.1%
Finding extra working capital 12.2%
Late payments 12.7%
Lack of skilled staff 10.8%
Tax / VAT 7.8%
Bank charges 3.1%
Access to good financial advice 2.3%
Managing expansion 8.1%
Competitors 17.9%
Other 0%
None 0%
Cash flow 25.3%
Finding extra working capital 10.4%
Late payments 15.2%
Lack of skilled staff 12.8%
Tax / VAT 6.4%
Bank charges 3.6%
Access to good financial advice 4.1%
Managing expansion 9.3%
Competitors 13%
Other 0%
None 0%
Cash flow 21%
Finding extra working capital 5.6%
Late payments 12.5%
Lack of skilled staff 13.1%
Tax / VAT 6.5%
Bank charges 3.1%
Access to good financial advice 1.5%
Managing expansion 3.8%
Competitors 21.9%
Other 11%
Cash flow 13%
Finding extra working capital 6.1%
Late payments 8.9%
Lack of skilled staff 10.9%
Tax / VAT 6%
Bank charges 1.9%
Access to good financial advice 0.8%
Managing expansion 3.7%
Competitors 14.2%
Other 3.4%
None 31.1%
Cash flow 16.3%
Finding extra working capital 8.2%
Late payments 15.9%
Lack of skilled staff 14.3%
Tax / VAT 6.1%
Bank charges 3.8%
Access to good financial advice 1.3%
Managing expansion 6.3%
Competitors 20.4%
Other 7.4%
Cash flow 20.8%
Finding extra working capital 6.7%
Late payments 11.7%
Lack of skilled staff 10.3%
Tax / VAT 6.3%
Bank charges 4.4%
Access to good financial advice 4%
Managing expansion 6.8%
Competitors 20.8%
Other (please specify) 8.2%
Cash flow 17.2%
Finding extra working capital 9.6%
Late payments 12.5%
Lack of skilled staff 8.5%
Tax / VAT 4.8%
Bank charges 3.9%
Access to good financial advice 6.1%
Managing expansion 8.5%
Competitors 21.4%
Other 7.6%
Cash flow 19.2%
Finding extra working capital 9.3%
Late payments 11.6%
Lack of skilled staff 11.2%
Tax / VAT 4.4%
Bank charges 4%
Access to good financial advice 4%
Managing expansion 9.1%
Competitors 20.2%
Other (please specify) 7.1%
Cash flow 18.6%
Accessing sustainable finance 7.7%
Late payments 11%
Lack of skilled staff 13.4%
Tax / VAT 5.6%
Bank charges 2.1%
Access to good financial advice 3.1%
Managing expansion 5.4%
Competitors 24.9%
Other (please specify) 8.2%

What is your main business priority at the moment?

Achieving growth 38.2%
Paying down debts 21.7%
Business consolidation 20.6%
Developing our products/services 14%
Investing in staff 5.6%
Investing in equipment or assets 0%
Other 0%
Achieving growth 41.9%
Paying down debts 19.2%
Business consolidation 18.9%
Developing our products/services 15.7%
Investing in staff 4.3%
Investing in equipment or assets 0%
Other 0%
Achieving growth 41.1%
Paying down debts 18%
Business consolidation 20%
Developing our products/services 16.2%
Investing in staff 4.7%
Investing in equipment or assets 0%
Other 0%
Achieving growth 34.2%
Paying down debts 22.1%
Business consolidation 23%
Developing our products/services 16.4%
Investing in staff 4.2%
Investing in equipment or assets 0%
Other 0%
Achieving growth 33.5%
Paying down debts 20.5%
Business consolidation 24.9%
Developing our products/services 17.3%
Investing in staff 3.8%
Investing in equipment or assets 0%
Other 0%
Achieving growth 38.2%
Paying down debts 18.8%
Business consolidation 20.2%
Developing our products/services 17.4%
Investing in staff 5.3%
Investing in equipment or assets 0%
Other 0%
Achieving growth 37.8%
Paying down debts 21.8%
Business consolidation 20.3%
Developing our products/services 14.8%
Investing in staff 5.2%
Investing in equipment or assets 0%
Other 0%
Achieving growth 38.7%
Paying down debts 18.6%
Business consolidation 18.3%
Developing our products/services 17.6%
Investing in staff 6.7%
Investing in equipment or assets 0%
Other 0%
Achieving growth 37.3%
Paying down debts 21.7%
Business consolidation 20.7%
Developing our products/services 15.2%
Investing in staff 5%
Investing in equipment or assets 0%
Other 0%
Achieving growth 34.9%
Paying down debts 18%
Business consolidation 22.4%
Developing our products/services 19.6%
Investing in staff 5.1%
Investing in equipment or assets 0%
Other 0%
Achieving growth 38%
Paying down debts 18.7%
Business consolidation 19.7%
Developing our products/services 17.6%
Investing in staff 6%
Investing in equipment or assets 0%
Other 0%
Achieving growth 28.3%
Paying down debts 15.1%
Business consolidation 17.7%
Developing our products/services 19.8%
Investing in staff 11.8%
Investing in equipment or assets 7.4%
Achieving growth 27.3%
Paying down debts 10.7%
Business consolidation 9%
Developing our products/services 17.2%
Investing in staff 9.9%
Investing in equipment or assets 5.5%
Other 20.4%
Achieving growth 31.9%
Paying down debts 14.3%
Business consolidation 20.5%
Developing our products/services 19%
Investing in staff 9.6%
Investing in equipment or assets 4.7%
Achieving growth 25.7%
Paying down debts 14.4%
Business consolidation 21.8%
Developing our products/services 21%
Investing in staff 10.2%
Investing in equipment or assets 6.9%
Achieving growth 26.3%
Paying down debts 15.6%
Business consolidation 23.7%
Developing our products/services 20.1%
Investing in staff 8.7%
Investing in equipment or assets 5.5%
Achieving growth 30.9%
Paying down debts 14.2%
Business consolidation 20.5%
Developing our products/services 20%
Investing in staff 8%
Investing in equipment or assets 6.5%
Achieving growth 33.6%
Paying down debts 13.2%
Business consolidation 16.2%
Developing our products/services 19.9%
Investing in staff 10.8%
Investing in equipment or assets 6.3%

Thinking about the last quarter of 2021 (September – December), what is your firm’s growth expectations?

Strong growth 21%
Moderate growth 37.4%
Will trade at current levels 33.2%
Moderate contraction 5.2%
Strong contraction 3.1%

What is the single biggest issue that will affect your firm’s growth?

Brexit 20.7%
Cashflow 19.3%
Access to funding 10.6%
Hiring skilled staff 13.2%
Ongoing impact of the pandemic 19.1%
Changing consumer spending habits 9.1%
New regulation 5.6%
Removal of government financial support 2.4%

Will your firm be investing to stimulate growth in the coming 12 months?

Yes, we will be looking to invest heavily 30.4%
Yes, in a limited way 37.3%
No, we have no plans to invest 32.2%

Will your firm be taking out finance to fund any planned investment?

Yes, we will be using our existing funders 23.9%
Yes, we will explore all available funding options 32.4%
No, we will be using savings / cash 19.9%
No, we have no plans to invest 23.8%

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