Explain Market Research reposted this
We surveyed 110 North East entrepreneurs about their business prospects and challenges and this is what they told us: 😤 Widespread lack of confidence in the UK governments economic policies which they tell us hampers investment and business growth. There's a sentiment that the government undervalue the contribution made by entrepreneurs to the economy. 📈 Growth is still on the cards for over half but the rate of growth has slowed considerably and for the first time in our survey's history, not a single respondent said they expected to grow by more than 20% this year. Compare this to 6 months ago, when over 1/3 of respondents were confident they could achieve >20% growth. 💡 Entrepreneurs are not ones to sit back and moan. They are looking at strategies to deal with the cards they've been handed. Innovation is key with many looking to introduce new products/ services this year, and many looking to enter new markets. Whilst not explicitly covered in the survey, we know that business owners are looking at whether AI can be used to increase productivity as our recent workshop on this was over-subscribed. ➕ Interest in acquisitions has grown as entrepreneurs seek to gain market share through this route All of the above places a strain on business owners. At the Entrepreneurs' Forum we support our members by making sure they are not facing these challenges alone. We have hundreds of experienced entrepreneurs in our network who help others navigate difficult times, gain perspective and show support. If you are sitting on the fence about joining, don't. Get in touch to find out more about membership. Thanks to Explain Market Research for conducting our survey. Results can be viewed in full on our website.