What are your predictions for 2024 and how do you see the next year going for your business? Would you like to explore the key trends and challenges that SMEs are likely to encounter over the next 12 months? Our annual SME Business Survey is back, and this time it is set to be better than ever!
The study, originally launched during the pandemic in 2020, is now live for 2023/24 and is open to all small and medium-sized enterprises trading in the UK and focuses on key issues such as the rising costs, marketing challenges, employee retention, and imminent employment law changes.
This is the fourth year that we have run the SME business survey, which is used to gain a deeper understanding of the economic landscape for the year ahead and discover how SMEs plan to navigate the changing business climate.
This year we have partnered with local digital marketing firm, Qoob Agency and Pulse Group Media and anticipate that the collaboration will expand the survey’s reach and strengthen its authority, providing greater insight into how SMEs are navigating their current business environment.
SME business survey results
We use the data collected from the survey to create an annual report that addresses the issues raised and offers recommendations to SME business owners on how to overcome the challenges. Additionally, we create a bank of resources each year, including webinars, advice, templates, and guides to help companies tackle their issues more effectively.
Last year’s SME business survey found that finances were a higher priority than ever before, with businesses highlighting the recession, rising costs and retention of staff as their biggest worries. The survey allows us to do a ‘stock take’ on key trends for SMEs, and reflect on how the market is changing.
It also gives us the opportunity to support those enterprises that really need the extra help. In response to the challenges identified in the 2022/23 survey, we delivered seminars on the cost-of-living crisis and employee retention, guides on employment law bills and EU reform, and polls on the four-day working week and artificial intelligence.
Our CEO, Greg Guilford, said: ‘With our SME business survey now in its fourth year, it has been enlightening to see the shift in mindset of SMEs during that time. Financial performance and securing new business were at the forefront of owner directors’ minds in 2023, but despite the challenges, the support network we have created in response to the survey has meant that we have provided numerous businesses with opportunities for growth and development.
Getting the most from the SME Business Survey
The survey provides a vital pulse check on the SME economic landscape, and participation from the SME community is crucial for its success. The more people that take part in the survey, the better we understand what support SMEs need right now. Our work provides a wealth of material to enable SMEs to thrive and succeed, despite those challenges.
With our partnership with Qoob Agency and Pulse Group Media, we are hoping to get a record number of participants this year. The survey is available online now and is quick and easy to complete.
Participants will be the first to receive our in-depth SME market analysis which offers guidance and support on how to tackle the upcoming issues that are likely to affect businesses.
Have your say today
If you would like to take part in the 2023/24 SME Survey, you can share your thoughts and predictions for 2024 here.