SME growth has returned
![](https://whitingsllp.co.uk/wp-content/uploads/2023/03/Picture1-e1678377542614.png)
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.