Three quarters of SMEs fearful for 2019

The majority of SME leaders are concerned about the impact one or more external factors will have on their business. Brexit leads the way (27%) and is closely followed by the sudden loss of a major client (18%) and a repeat of the 2008 banking crisis (17%).

In order to prepare for the new year and protect their business from potentially negative forces, 61% of SME leaders say they will use the upcoming festive period to plan in some way.

83% of SMEs have set goals for their business in 2019. However, the top goal is to maintain the same level of business (35%) as they delivered in 2018.

Outside of maintaining business, the top aims for SMEs in 2019 are to deliver a greater profit (27%), increase staff (18%), and to put a renewed focus on brand/marketing/online presence (16%).

Chirag Shah, CEO of Nucleus Commercial Finance, commented: “As we approach the start of 2019 business leaders’ thoughts and attention is increasingly turning to the highs and lows next year will inevitably hold. Whether your business goal for 2019 is to ride out the uncertainty of Brexit or to deliver record-breaking profits, taking the time to plan and consider your route to success is essential.

"As a part of this ensuring, you have the finances in place to deliver your 2019 objectives will help you to focus on the job at hand, knowing that the finance you need is already in place. By speaking to your advisers or financial providers now, you can be supported to achieve your ambitions for 2019.”