Hitachi Capital Business Finance

Small business owners prioritise sales growth plans for 2020

More than three-quarters of small business owners (77%) are focusing on new initiatives in 2020 to make their business stronger, according to the latest research.

The Hitachi Capital Business Finance national poll has revealed that 38% of the 1,196 survey participants claimed they were looking to improve sales.

Only 20% of business owners were looking to cut back on costs, compared with the 35% recorded last year.

Almost a quarter of small business owners (24%) are launching new services and products, with 16% investing in marketing and 11% in digital.

They are also looking to hire senior employees (6%) and invest in talent development (15%).

Gavin Wraith-Carter, managing director at Hitachi Capital Business Finance, said: “[Our research points to] 2020 being a year when more small businesses will be looking for finance to help [them] to realise their growth ambitions. 

“We would encourage business owners to shop around, to look beyond the high street lenders and talk to specialists that can offer flexible solutions that are tailored to the needs of their business.”

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