2013-01-03 00:00:00NewsEnglishhttps://quickbooks.intuit.com/uk/resources/uk_qrc/uploads/2017/01/2013.jpghttps://quickbooks.intuit.com/uk/resources/news-and-updates/bright-future-predicted-for-small-businesses-in-2013/Bright future predicted for small businesses in 2013

Bright future predicted for small businesses in 2013

2 min read

Small business community Enterprise Nation has put together its predictions for business trends in the UK in 2013. They point to a year in which small businesses will come out tops.

The community, which provides support for homegrown startups, asked its 75,000 members what they thought the New Year had in store for UK small businesses.

These are Enterprise Nation’s top five predictions:

1.      Small businesses will outsmart big businesses

2.      Sales via online channels will enable international expansion

3.      Squeezed budgets will force small businesses to prove value and return on investment

4.      Mobile will change everything from payments to work styles

5.      Small businesses will grow turnover, not headcount

‘Unique position’

Enterprise Nation member Sheryl McFarlane of Little Acres Rural Business Solutions, said:

“Despite the doom and gloom of the recession, small businesses will continue to buck the trend and do well in the New Year.”

This, said Sheryl, is due to small businesses’ unique position versus bigger brands:

“We’re able to build better connections with our customers than bigger brands – and really get to grips with the concept of relationship-building leading to more sales.”

Alex Mottram of Motties Slippers echoed Sheryl’s predictions:

“Small businesses are better suited to adapt to economic challenges – and move with the times. In 2013, consumers will be even more discerning about whom they hand their money over to. They’ll want to know who’s behind the product – and that’s good for small businesses.”
According to PR business Above & Beyond, UK small businesses will “expand internationally and venture into untapped markets”.

Suzanne Dibble of Lawyers4Mumpreneurs offered a prediction that makes international expansion a possibility for lots of UK small businesses:

“2013 will be about channelisation. About selling products in lots of places, like iTunes, Amazon, YouTube and Facebook.”
Enterprise Nation, which supports small businesses in the UK on its website, at events and through its business books and eBooks, also asked its authors for their predictions.

Jackie Wade, author of ‘Successful Selling for Small Business’, said 2013 will be a time for  startups to rethink their product pitches:

“As budgets become more and more squeezed, it will become more important than ever to clearly get across value and return on investment.”

Mobile payment explosion

Another finance expert predicts an “explosion” in mobile payment solutions that will have an effect on independent retailers:

“Customers will expect to be able to pay for goods and services straight away, and may go elsewhere – or just not bother! – if they cannot do so.”
Good news then that at Intuit, we just launched our own mobile card payment solution, Intuit Pay!

Dan Wilson, author of ‘Social Media for Small Business’ agrees that mobile will be massive:

“Mobile, which includes smartphones and tablets, is set to become really huge for small businesses. Whether that’s eCommerce or mobile working – will 2013 see the death of the desktop? Or even the laptop?”

Small business growth

Enterprise Nation founder Emma Jones, who this year was awarded an MBE for Services to Enterprise, predicts small business growth, but not as we know it:

“In 2013, small businesses will work hard to grow their turnover, not their headcount. They’ll focus on what they do best and outsource the rest, and so enter new markets and increase profits, without increasing overheads.

“The challenge will be in how the government measures this modern form of growth.”
 What are your predictions for the small business landscape in 2013? 

Image courtesy of Stuart Miles/ FreeDigitalPhotos.net

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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