According to a survey conducted by IMA® (Institute of Management Accountants) and ACCA (association of chartered certified accountants) SMEs from all over the world seems to be more confident about the future that lies ahead.
The survey by IMA® and ACCA titled Back in the Game indicates that the positive attitude of SMEs in the UK is due to the presence of some good investment opportunities and the support they are getting from the government.
“Worldwide, government policies regarding SMEs are improving with the upturn; with UK government taking some actions to help SMEs. With developments happening in the backdrop, SMEs are now looking at the future with more confidence and are positive that their economic policies will work in the future, there is no doubt that all this is persuading them to make more investments and to provide individuals with more jobs. Countries like Singapore, UAE and the UK Are leading the pack when it comes to making favorable policies for SMEs in major IMA/ACCA markets, “said Charlotte Chung, senior policy advisor in ACCA.
“Investment opportunities for the SMEs around the world are improving. The increase in investment opportunities for SMEs is due to the availability of more funds and more profit making opportunities. SMEs that benefited the most from favorable investment conditions were from Ireland, UAE and the UK.”
In the past SMEs has suffered the most due to the economic recession, but SMEs have always shown great character and fighting spirit. SMEs are capturing new investment opportunities, by taking on new and innovative business proposals, targeting new businesses and markets, and establishing strong relationships with suppliers. IMA/ACCA’s previous report on SMEs included a Review of the Performance of SMEs. The Review highlighted that mid-sized companies has contributed a lot in the growth of the economy, while IMA/ACCA’s second survey has re-affirmed their belief that SMEs needs to be supported for the growth of the economy.
Raef Lawson, vice president of the survey, commented: SMEs are the most ambitious and ready for growth.
‘Mid-sized companies were the ones that led the race in creating jobs in the last period’ said Lawson. ‘They were also the ones that invested a lot on the development of their staff. This also highlights the mindset and preference differences among medium and small businesses.’