The percentage of UK small businesses considering new projects to achieve business growth (66%) has fallen to its lowest level since January 2021, according to new research by Novuna Business Finance.
Further, the Novuna study suggests the businesses that need to improve their fortunes most urgently are the very enterprises stepping back from investing in new growth initiatives. Compared to last quarter, 57% of businesses facing contraction said they were looking at projects to create future growth (falling from 68% last quarter) – and among those predicted a flat period of zero growth, the figure also fell sharply from 63% to 54%.
The latest findings are from Novuna’s Business Barometer study. The new study asked a nationally representative sample of 1,224 small business owners if they were considering new initiatives to power future business growth – and, if so, what they were planning to do.
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