New research from Aldermore Bank indicates signs of recovery for small and medium-sized enterprises (SMEs) in the UK, as they reveal plans to invest in their businesses in the next year, coinciding with the easing of lockdown restrictions. SMEs plan to spend an average of £97,000 to grow their business in 2021 and help kickstart their recovery from the COVID-19 pandemic.
Over the next 12 months, one in four (25%) SMEs will invest in their online presence, with one in five (21%) advancing their digital marketing. A further one in four (21%) will spend on new equipment and 20% will invest in their staff through training. Meanwhile, one in five (18%) plans to diversify into new products and services. One in ten (10%) will invest in greener/more sustainable activities.
Apart from COVID-19, 15% said the main priority for the next 12 months in recovering from the pandemic will be expanding their customer bases.
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