76% of companies optimistic of growth, despite Brexit uncertainty

New research by SAP Concur has revealed that 31% of UK businesses consider growth during 2019 to be critical. 

In addition, 96% reported that their company is planning to grow, with it being 25 months, on average, until they anticipate to reach their fastest rate of growth.

Importantly, companies demonstrated notable optimism about growth with 76% saying that they were very or extremely optimistic that their business would grow in the next two years, despite uncertainty surrounding Brexit. 

Dafydd Llewellyn, managing director SMB UK and France, SAP Concur said: “That UK decision makers are so positive about their growth prospects makes for encouraging reading. 

“To prosper in the midst of so much uncertainty will require resilience, determination and an adaptable mindset, in order to create a nimbleness to their operations that doesn’t hinder growth, stifle innovation or negatively impact their ability to retain and hire staff. 

“Rather than fearing the unknown, UK businesses are up for the challenge. In line with this, they’re increasingly seeing finance as an innovative role that can equip them with the data and insight they need to make informed decisions that enable the growth by protecting their bottom line, investments and employees.”

Indeed, 96% said that finance was imperative to their organisation achieving its growth goals. 3 in 10 of those surveyed said that finance reporting and insights are critical to setting growth priorities, suggesting a clear link between finance and company ambition. 

Llewellyn continued: “2019 is going to be a year where the ability to quickly change course is key to survival. With the right processes, transparency and tech in place, UK firms can give themselves the best chance of adapting to changing market conditions and realising those growth ambitions – because if they do the boost to society and the wider economy will be most welcome.”