CIM survey suggests growth for small, medium businesses

Small and medium-sized business in the UK is improving, according to new results published in The Chartered Institute of Marketing’s (CIM) Marketing Trends Survey 2010.

The annual report, which is conducted by research giant Ipsos MORI on behalf of the Institute, found that small and medium-sized businesses in the UK are the most optimistic about business growth over the coming year. More than half of respondents were convinced that their own business would improve over the next 12 months, with just eight per cent expecting there to be a decline in growth.

Larger businesses - those that have a turnover of £100 million plus - were far more negative, with a fifth of respondents predicting that the economic situation would worsen over the next year, impacting badly on their business.

Fourteen per cent of those working in marketing departments at small companies with a turnover of between £1-£10 million were concerned about losing their jobs, compared to 24 per cent at medium-sized companies (£11-£50 million turnover).

Small companies were found to be most likely to increase the number of marketing staff over the next year, with an overall increase of 15 per cent, compared to just three per cent for larger companies.

David Thorp, Director of Research and Professional Development at The Chartered Institute of Marketing, said, “As we come out of the downturn, it is reassuring to see that small business has fared these difficult economic times well, with growth projected for the next 12 months.”