Retail sales may be growing, but many small and medium-sized businesses have a mixed view of the economic outlook. A recent Capify Business Confidence Report found that while just 22 per cent of SMEs are confident in the economy, more than half are confident in their own business’s outlook — with just 20 per cent lacking confidence in their own prospects.
The statistics should not come as a surprise. Owners of smaller retail businesses are incredibly resilient and find ways to succeed, even when conditions are tough.
The good news is that the mood among British SMEs is beginning to shift. Capify’s polling shows businesses are feeling more confident than last year, with 80 per cent expecting to maintain or increase revenue in the next six months.
That optimism is reflected in Barclays’ latest consumer spending survey that showed consumer confidence hit a 21-month high in July.
Opportunities for growth clearly exist; the challenge for retailers is making the most of them while managing risk and staying on top of day-to-day operations.
To help navigate this, Capify has produced a Retail Growth Blueprint — a practical guide to help retailers:
- Identify and manage trading pressures
- Make the most of new opportunities
- Invest in stock and premises
- Maintain healthy cashflow
Each section includes checklists and scorecards, making it a hands-on tool for identifying and acting on the areas that could have the biggest impact on your business.
Capify has been providing flexible finance to UK businesses since 2007. The Blueprint includes guidance on using funding strategically, plus ways to drive growth and improve cashflow without needing additional investment.
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