New research reveals that UK SME’s are planning to increase employment, export and expand their product offering in a bid for growth in 2016.
Small businesses accounted for 99.3% of all UK-based private sector businesses at the beginning of 2015 according to the FSB - 200,000 of which are supported by e-commerce giant’s eBay.
The survey of 400 retailers showed that 49% of small online businesses were confident about their prospects for the New Year, and only 22% were left feeling pessimistic about the UK economy and their trading forecasts.
The study revealed that one in eight firms expected to hire new staff in 2016 resulting in thousands of new jobs in the UK.
Furthermore, 13% of small online businesses are expecting to expand their reach to global markets over the next 12 months adding to their already prevalent global shipping programme.
It also showed that 40% of those surveyed felt confident enough to expand their product offering in the coming months.
These encouraging statistics continue to show the continuing growth of the UK’s e-commerce sector which generated approximately £573 billion in sales (up from £561 billion in 2013).
Commenting on the survey Kit Glover, Director of Professional Selling at eBay UK stated:
“The business community should be very encouraged by the findings of our Small Business Optimism Index. Despite a tough retail environment, the fact that digital small businesses are looking to expand their product offerings, export to more foreign markets and thus employ more people here in the UK can only be a good thing.”
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