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More customers, more staff, less costs top business priorities

More Staff & Customers

New research from Santander Corporate & Commercial has revealed that the three most important business goals for UK SMEs in 2015 are building the customer base, employing more people and cutting costs. The survey which gauged sentiment from a range of UK businesses around their business plans in 2015, found that increasing customer numbers was ranked by 61% of respondents as a key target, followed by 52% for employing more people and 51% for cutting costs. Other areas companies are keen to prioritise include buying new capital equipment (45%), to develop new products (41%), and to seek out new suppliers (33%). International trading ambitions were also highlighted by the study, with highly ambitious businesses also more likely to be actively trading internationally: 56% stated they already trade internationally versus 50% for all firms; and 23% said they will look to expand further into international markets in 2015 against 20% of all businesses. Marcelino Castrillo, Managing Director, SME Banking at Santander Corporate & Commercial, said: ‘It is great to see that expansion is a key theme for UK businesses in 2015, particularly with regards to employing more staff. This is great news for the UK economy as the health of the country's small and medium-sized businesses significantly affects us all. It is also interesting to note that firms that see themselves as highly ambitious are eager to expand, grow and export even more, a good indication of what drives our more successful businesses.’

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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