SME's target next year is expansion, says Alliance & Leicester

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SME's target next year is expansion, says Alliance & Leicester

The main priority for nearly half of small and medium sized enterprises (SMEs) in the UK is expansion during 2007, says Alliance & Leicester.

A total of 48 per cent put expansion as their major aim for next year while a further 30 per cent of respondents to the Alliance & Leicester Commercial Bank's Business Banking Observer poll said that they wished to strengthen customer ties.

Feelings about the UK economy in general were relatively mixed for the upcoming year with 48 per cent stating that they were more buoyant about the economic future compared with a year previous. Just over a quarter (26 per cent) said they were slightly or much less confident about 2007 than a year ago.

Steve Jennings, director of business banking at Alliance & Leicester, commented: "It's really encouraging that so many small businesses are optimistic and ambitious about their prospects in 2007 and are planning for growth.

"Whilst this is great news, having the right finances in place is essential for sustaining business growth – having a supportive business bank behind you to help you meet your business objectives can make all the difference."

Alliance & Leicester offers a range of accounts for small to medium sized companies including the Business Builder Current Account and the Instant Reserve Deposit Account.

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