Sage, a leader in accounting, financial, HR and payroll tech for small- and mid-sized businesses (SMBs), has launched its third annual survey – Small Business, Big Opportunity, which reveals a bullish outlook among UK business leaders.
Amid rising costs, economic uncertainty and escalating tax demands, UK SMBs have shown extraordinary adaptability. Since 2022, confidence amongst business owners has continued to build, with 83% optimistic about achieving business success in 2024. Nearly half (45%) reported revenue growth over the past year, while only 26% experienced a decline.
A significant factor fuelling SMB confidence is their embrace of digital technologies as key growth drivers. Among those already using AI, 78% reported its importance to daily operations, while three-quarters plan to invest further in AI within the next year. UK SMBs are also more likely than their European peers to view adopting digital tools as a key contributor to their confidence.