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’Growth pioneers’ take control of business success in the South East
Two thirds of businesses in the South East expect to grow in the next two years
Smart finance underpins firms that succeed, increasing the likelihood of predicting growth and increased exports
An inspiring and yet hidden business success story is taking place in factories and offices across the South East, according to a new report released by HSBC Commercial Banking. Behind the economic doom and gloom it reveals visionary business leaders who are trailblazing their way to growth – and challenging others to follow.
The key findings of the report for businesses in the South East show:
• 96% of businesses have been proactive in dealing with the impact of the recession.
• Two thirds (64%) of businesses say the recession has brought about unexpected benefits.
• Two thirds (64%) of businesses are expecting their business to grow over the next two years.
The vast majority (97%) of these businesses have specific plans in place to help fulfil their expansion plans.
Ian Tandy, HSBC’s head of commercial banking in the south and east, commented: “This report reveals the hidden successes we are seeing on a daily basis in the South East; businesses getting on and growing despite the economic downturn. These inspirational business leaders hold the key to trading the country out of recession and are using smarter finance solutions and innovative thinking to strengthen both their position and that of the future UK economy.“
Identified as ’growth pioneers’, these inspired individuals in the South East are taking control of the future of British business and steering the country towards recovery, according to the Growing British Business report. Fostering legendary British grit and adopting clever business strategies to prosper despite the downturn, these companies are capitalising on emerging ’beacons of hope’ with two thirds (64%) expecting to grow in the next two years.
Business THE M A GA ZINE
www.businessmag.co.uk TM
Saying they are innovating and diversifying, rethinking their new domestic opportunities and product markets, investing in staff, focusing on new international markets and using smart finance tools to turn order books into instant liquidity, the growth pioneers
have clear and specific plans to fulfil their expansion targets.
This business leader bullishness comes not despite the downturn but because of it, with two thirds (64%) of businesses in the South East citing unexpected benefits from the economic crisis. Encouraging them to re-think their business focusing more on international trade, reshaping culture and getting innovative about financing has led to companies creating more efficient ways of working.
Growth pioneers
The report identifies three types of growth pioneer who are rolling up their sleeves and making their own opportunities for growth. Each has their own inspiring and effective strategies for not merely surviving, but for prospering and expanding, in tough economic times:
• New exportentials are making the much heralded export-led recovery a reality, working with their bank to maximise their cashflow and with experts such as business schools, to realise their potential.
• Co-operationals are creating formal and informal alliances and partnerships based on mutual strengths to get ahead recognising that combined power is often stronger in tough times.
• Confident capitalisers are using the recession to get ahead, investing despite the downturn so they can outstrip their competitors, freeing up working capital within their business and investing assets for growth.
Innovation, investment in talent and exports to faster growing, emerging economies are key strategies for growth pioneers who are expanding despite the recession. While their strategic approaches differ, one of the commonalities they share is an innovative approach to financing their business.
At a national level, the finance decision makers questioned in the report that are already using finance tools that allow them to free up working capital to expand growth or work with their bank to finance trade, have a far most positive outlook for growth:
• 78% of finance decision makers using trade and invoice finance believe they will grow in the next two years, compared with 60% of all business leaders.
• 58% predict their exports will grow in the next five years (compared with 38% of all business leaders questioned).
• They are also less likely to have to make forced efficiency saves – 38% compared with the average of 62%.
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – DECEMBER 12/JANUARY 13
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