SMEs must overcome leadership hurdle to achieve growth plans

• Two thirds plan to grow in next one to two years • But nearly half believe they have the wrong people in charge to succeed • Two fifths are stuck in limbo as a result
By: ABN AMRO Commercial Finance
 
Nov. 27, 2013 - PRLog -- November 27 2013

UK SMEs are chasing new growth as the economy heals, but they are also questioning whether they have the right people in charge to succeed, according to a new study from ABN AMRO Commercial Finance.

The Road to Growth report finds that over two thirds (69 per cent) of SMEs are planning to grow over the next one to two years but, that nearly half (44 per cent) of senior decision makers do not think they have the right people in place to reach their potential.

Over half (55 per cent) of decision-makers admit delaying strategic decisions during the tough economic period, but now nearly six in ten (58 per cent) are more actively considering growth opportunities than they were last year.

However, two fifths (40 per cent) feel their business is currently stuck in a state of limbo, putting their ambitious growth goals in peril. Almost a quarter (22 per cent) of decision makers believe that it is the differing priorities of business leaders that are holding their company back.

Indeed, one in four decision-makers (24 per cent) believe differing growth priorities have become more pronounced during the recession and nearly a third (31 per cent) of business leaders admit they have very different business growth priorities from their counterparts.

Peter Ewen, Managing Director at ABN AMRO Commercial Finance, comments: “With the recent positive economic news, it’s great that SMEs are thinking about growth again. With renewed enthusiasm, the SME community can really help turn these new green shoots into a sustainable recovery.

“More than ever though, SMEs need the right people in charge, to think about succession planning and exit strategies for shareholders, have the right backing and a clear direction of travel if they are to turn their business ambitions into economic reality.”

ENDS

Editor’s Notes

For Further Information

For further information or an interview with Peter Ewen, please contact Cal Young or Lauren Greatorex at Man Bites Dog on 0844 561 1416 or at teamabnamro@manbitesdog.com.

About ABN AMRO Commercial Finance PLC

ABN AMRO Commercial Finance is an award-winning Invoice and Asset Based Lender and part of the ABN AMRO Commercial Finance Group. Established in 1989, the company provides Factoring, Invoice Discounting, Export Finance, Structured Finance, Asset Based Lending and numerous related services to start-ups through to £250m turnover organisations. Providing consistent support via its 200+ staff and 11 regional offices, ABN AMRO Commercial Finance helps clients manage working capital, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As. http://www.abnamrocommercialfinance.co.uk

About the Research

The research was conducted by BDRC Continental on behalf of ABN AMRO Commercial Finance, amongst a representative sample of 450 UK SMEs in September 2013.

Further information about navigating The Road to Growth can be found here:

http://www.abnamrocomfin.com/gbr/en/your-challenge/the-ro...

An infographic outlining the results can be found here:

http://www.abnamrocomfin.com/gbr/en/your-challenge/the-ro....

Contact
Lauren Greatorex
***@manbitesdog.com
441273716825
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Source:ABN AMRO Commercial Finance
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Tags:Smes, Lending, Finance, UK business, Abn Amro
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