UK SME Confidence Index June 2017 ________________
Half of UK SMEs face major talent management challenge in next 12 months
Biggest challenge: When UK SME leaders were asked about the challenges they face in the next 12 months, half cited talent management as one of the biggest
Confidence in business growth: For their own businesses, 70% are confident that sales will increase over the next 12 months alongside profitability (52%). A further 55% believe headcount will increase
Low faith in economy: When it comes to faith in the economy, 39% confirm that economic conditions have declined for them over the past 12 months, half believe this trend will continue over the next year. Just 7% are optimistic
Brexit proofing UK businesses: This is not a major concern; just one in four leaders of UK SMEs claim they have increased prices, 22% have reduced overheads, 20% set up bank accounts in alternative currencies, 12% have frozen headcount, 10% have frozen salaries and 8% have made redundancies
EU still considered an opportunity: Half see the EU as the biggest long term opportunity, more than double those that cite the US (25%) closely followed by Asia at just 17%
Forget Brexit and political turmoil, finding and retaining the best people is a major concern.