10 things UK Professions are talking about…
BLOG01 Mar 2024
Braemar Finance recently conducted research that canvassed the views and opinions of 1,200 Professions business owners – Dentists, Opticians, Pharmacists, Funeral Directors, Vets and Care Home Directors – on a range of topical subjects
Following the release of our latest SME research Data Hub, we pick out 10 statistics that caught our eye.
- Investment: 84% of respondents plan to seek funding for business investment in the next 12 months
- Opportunity: 58% of firms have missed a business opportunity because of a lack of finance available
- Economy: 49% of respondents are confident the economy will grow in 2024
- Outlook: Half expect their business to expand by the end of the year
- Acquisitions: 45% of respondents saw a rise in acquisitions in 2023
- Artificial Intelligence (AI): 78% of business owners think AI will impact their business in the coming years
- Customer service: Having a named contact at their business lender is important to over 90% of businesses.
- Priorities: When deciding which funder to go with, both 'trust and experience’ and ‘flexibility of terms’ are more important than ‘cheapest rate’
- Growth: Energy, inflation and interest rate rises have been the three main inhibitors of growth for Professions businesses
- Costs: 78% of firms have passed additional costs onto their customers (19%: fully; 59%: partially)
