Home Business NewsBusinessBusiness Growth News Optimism for growth high among SMEs despite ongoing challenges

Optimism for growth high among SMEs despite ongoing challenges

by LLB staff reporter
2nd Feb 21 1:21 pm

According to new research by vehicle leasing experts, LeasePlan UK, the main challenges senior bosses at SMEs face in the next few years revolve around change – specifically the ability to keep up with regulatory changes (45%) and the pace of change in the world of ecommerce (32%).

Despite this, six in 10 (59%) of bosses were optimistic for business growth this year, with just under a third (29%) stating that growth was their main business objective, according to the survey of over 1,000 senior bosses at SMEs across the UK.

Whilst a third (34%) cited survival as a business objective, one key solution for businesses navigating opportunities through the current situation and constant change is to be as flexible as possible (64%). The type of flexibility varies, from increased flexibility for staff due to COVID 19 (76%) to flexible fleet/vehicle leasing options to help their company to handle dynamic and unpredictable changes (72%).

The move to electric remains key, with just under half of employees (45%) showing an increased interest in their organisation’s environmental impact. In fact, 73% of business leaders would be interested in having an electric fleet when vehicle contracts come up for renewal.

Chris Black, Commercial Director at LeasePlan UK said, “In a time of great economic uncertainty, many small and medium-sized organisations are having to adapt their business models to survive. At the same time, business owners are having to make bold decisions based around their future sustainability, as the pressure to adopt more environmentally friendly practices mounts. All this is generating huge demand for a new range of sustainable and flexible solutions in a variety of industries, including in fleet management.”

To enable increased flexibility and give SMEs greater confidence and assurance in their decision making, LeasePlan UK is introducing a new product: LeasePlan Confident. LeasePlan Confident, available to SME and small corporate customers, enables the ordering of lease vehicles with confidence of early termination due to life-changing events.

Black added, “We know that the pandemic has put an unprecedented strain on fleets of all sizes, and more flexible options would give smaller businesses the opportunity to make changes where necessary. We believe that this flexible solution, alongside our industry leading EV expertise, will provide a safety net for our clients, and protect them from unexpected events while giving them the confidence they need to make bolder decisions for the future.”

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