UK fast-growing firms set to grow by 20% in 2013, survey finds

UK’s fastest growing businesses are expecting to grow by 20% in 2013, research by business coaching service GrowthAccelerator has found.

More than 80% of the 500 UK businesses surveyed, said they were planning to achieve growth in the New Year by investing in staff training, growing their workforce and working with like-minded peers.

The survey found that 80% of London and Hertfordshire-based businesses forecast at least £20m as turnover next year.

Despite 2013’s gloomy outlook, the businesspeople felt “investing in staff even when money is tight” would help them make profits next year.

Simon Littlewood, head of business growth services at GrowthAccelerator said: “In prioritising investment in staff training next year fast-growing businesses are showing they have faith in the strength of their business models.

“The impact of the recession has hit hard for many companies and we know from the businesses we work with every day that there is nonetheless huge ambition and drive among the UK’s business owners.”

Reflecting on 2012, business owners said that formal business coaching helped them to network and build relationships with the right partners to further their business.  

“We’re seeing an emerging trend for businesses seeking an external perspective on their perceived and actual business challenges, to ensure they’re primed for optimum growth,” said Littlewood.

More than 2,000 businesses have signed up for GrowthAccelerator to “get a fresh outlook, energy and ideas from trusted advisors.”