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Increased Physical And Mental Stress, But UK SMEs Are Determined And Up For New Challenges

LONDON, April 17, 2012 /PRNewswire/ --
  • Over three quarters (77%) report ailments at work and 45% are more stressed than a year ago
  • Half (50%) expect to grow this year; one in ten aiming for 10-20%
  • Nearly two thirds (64%) ready to face the challenges of the year ahead

Small businesses, the lifeblood of the UK economy, have been carrying the stresses and strains of the world on their backs since the beginning of the recession. However, it won't stop them gunning for growth this year, according to new research from specialist business insurer Hiscox.

The research analysed how UK business owners were feeling about their health and well-being as they face the challenge of growing successful businesses in the current environment. Despite many reporting stresses and strains and only 2% of business owners believing the economy is already in recovery:
  • Half of business owners (50%) expect to grow their business this year compared to 15% who expect to contract
  • Over one in ten (12%) are striving for between 10%-20% growth
  • Confidence prevails with 48% feeling positive compared to 26% who are not so assured

Alan Thomas, small business insurance expert at Hiscox, comments on the findings:

"SMEs are working hard to sustain and grow their businesses in the current climate and, if they get back what they put in, they will continue in their role as the engine room of the British economy. They may find it hard going along the way, but their determination, focus and an unwavering commitment to grow and seize opportunity, can only benefit us all.

"As they plot their route to success though, SME owners should understand the personal and professional risks they face and call on support when they need it."

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