“It is fascinating to watch businesses adapt to both survive and thrive – cutting their cloth in tough times, then innovating and building new networks to fuel growth in more optimistic conditions. One thing remains true: whether in good times or bad, SMEs have turned to each other for support.”
The Collaborate UK 2015 report found that 88% of SMEs are in the same or better shape financially than 12 months ago; 85% of SMEs are sharing skills, expertise and mutual networks to drive their business forward; and that 60% of SMEs believe uncertainty about the UK's future in the EU is affecting long-term growth plans. Whatever the challenge, we know UK SMEs will face it head on.
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