SME growth has returned
9th March 2023
When we started to emerge from the depths of Covid lockdown, there was much talking up about the hoped for ‘revenge spending’. Now that we have a good sized population of SME client accounts with 2022 years ends to look at, thankfully, this sales growth did materialise (see above). Although the 16% growth in 2022 seems high, this actually is only the ‘catch-up’ sales required for the last 3 year average to come in at a more modest (and believable) 3%.
Business owners, however, will now have switched from worrying about poor growth to worrying about increased costs. But at least its easier to carve out a decent profit if your P&L starts with a bigger number.
Disclaimer - All information in this post was correct at time of writing.
