Nearly two-thirds (60 per cent) of UK businesses have grown their turnover in the last 12 months, with almost a quarter (21 per cent) achieving “fast lane” growth, according to research by HSBC Bank.
HSBC Bank’s 2003 business life in the fast lane looks at all sizes and sectors of business, and defines companies according to growth: fast lane companies grew turnover by more than 20 per cent; middle lane by up to 20 per cent; companies in the inside lane saw no growth; and companies in reverse experienced a decline in sales.
Almost half (47%) of businesses are optimistic about future market conditions, especially small businesses (with an annual turnover of up to Ј500,000). IT, electronic and construction companies remain optimistic, while those in distribution and manufacturing appear to be more pessimistic, along with those with overseas interests, who blame the strong pound.
