Sunday Business Post, 4th January 2015
The outlook for small firms is positive in 2015 with two-thirds reporting that their business is growing while a further 28 per cent report stable business levels, a new survey shows.
The Small Firms Association (SFA) said nearly three quarters of firms surveyed predict strong investment levels in their business in the next 12 to 24 months with just eight per cent not planning further investment at present.
Brand development is the priority for 41 per cent of firms with 26 per cent planning to invest in staff, 18 per cent in IT and 13 per cent in improving customer knowledge.
“Small firms have now moved from survival mode to focusing on how they can grow their market share,” SFA director Patricia Callan said. “Brand development and marketing are key parts of this strategy and hiring and retaining the right people is already emerging as a problem in many sectors, particularly in IT and high-tech sectors.”
She said reductions in tax and improving access to finance will remain priorities for small firms in 2015.