According to a new survey, small businesses in the UK, particularly those serving other businesses, are feeling the benefits of the upturn in the UK economy, with 86% saying their sales are up on the previous 12 months. And they’re expecting more of the same during the coming year! Almost 200 businesses across the UK took part in a survey, commissioned by GSA Business Development Ltd and conducted by Survey Mechanics, during the first quarter of 2014.
Jonathan Silverman, Managing Director of GSA said “The growth is being generated in large part by increased marketing activity, showing that these businesses are finally feeling less cautious and confident enough to invest. In particular, they are spending on online marketing including refreshing their websites and also in social media.”
Peter Martin of Survey Mechanics, said “Businesses are clearly gearing up for economic growth now, and while half of them are getting new business from organic market growth, these companies are really working hard for new business.”
While online channels combined is where the marketing effort is going, old lead generation methods of securing referrals and recommendations from existing customers and networking to meet new ones are the most important individual marketing tools. Almost two thirds (66%) of respondents said that they are getting most new business from referrals.
For those that are not experiencing growth, the main reasons are lack of cash (almost a third), more competition (29%) and lack of demand (27%).
Over three quarters of the respondents believe that the UK economy is improving, with growth continuing over the next 12 months. Overwhelmingly, respondents suggest that what will make the economy grow is improved business confidence (81%) and consumer confidence (78%). Very few thought a change of government would be helpful – with fewer than 8% mentioning this.
Notes to editors:
The survey was conducted online during the first quarter of 2014 by new market research company Survey Mechanics on behalf of GSA Business Development Ltd.
190 businesses responded, of which 85.6% were business to business companies. Business and professional services was the most highly represented sector (30% of the sample). Companies participating represented companies employing from fewer than 10 people (57%) to more than 5,000 (2%).
For more information, please contact
GSA Business Development Ltd:
0845 658 8192
Survey Mechanics Ltd:
- Contact Name:
- jonathan silverman
- Managing Director
- GSA Business Development Ltd
- Contact Email:
- click to reveal e-mail
- Contact Phone:
- 0845 658 8192
- Company Website: