Mid-sized UK business more upbeat than foreign counterparts

UK MID-SIZED BUSINESSES are more chipper about their growth prospects during 2014 than other major industrial regions, according to a survey by American Express.

Half (48%) of UK mid-sized companies anticipate further growth during the rest of the year, with a further 36% expecting their business to grow regardless of the climate, its June survey found. They are more bullish than US, German, Japanese and Australian counterparts, with only 35% seeing an improving situation, although many of these are optimistic in the medium term.

Two-thirds (66%) of UK respondents said revenues had increased compared to a year earlier, while 62% have more employees than last year. Four in five (83%) expect to increase headcount further this year.

A third (34%) are prioritising new customer acquisition and a further 16% plan to prioritise investments in customer retention and growth. Other spending plans are similarly focused on accessing new customer channels.