Updated 2:34pm 29 May 2012

Small firms unveil big hopes for the new year

SMALL businesses in South Tyneside are shrugging off the national gloom and say they are going for growth in the new year.

Almost eight out of 10 said they were looking to grow their business in the future and more than half of those had already written plans on how they intend to do so.

The biggest challenge for the 100-plus firms quizzed by the South Tyneside Business Forum was finding new markets. Almost 48% pointed to this and nearly as many said guidance on securing new clients topped their business support wish-list.

Despite the widely-reported problems many small businesses have experienced in accessing investment to grow, just a quarter of those interviewed in South Tyneside pointed to this as a major challenge. More – 34% – said they would prefer help to market and promote their enterprises.

Forum manager Michael Arnot said: “As you would expect, the results show that confidence is taking a knock due to the economic climate. However, the fact that so many businesses are still even considering growth is immensely positive.

“As a result of the survey we are now working on various initiatives to address the issues raised and look forward to working with the forum to make 2009 a good year for businesses in the borough.”

The results of the survey will be included in South Tyneside’s economic strategy and the forum is organising a number of more immediate initiatives to meet local business needs. They include helping small firms get to grips with bidding for public-sector contracts, through to increasing the amount of time public organisations spend discussing their requirements with firms and a flipchart road show, aiming to boost trade between firms in the borough.

Gillian Sexton, who runs Razors Barber Shop in Brockley Whins near South Shields, took part in the survey.

She said: “The Business Forum is all about business people working together to make South Tyneside an even better place to do business and the survey is a great way to find out how best to do this.

“The results of the survey are very encouraging for local businesses and it is also reassuring at times like this to know that you are not alone and that other businesses share similar worries and concerns.”

The forum, free to join, helps business identify networking opportunities and organises speakers and practical workshops for members.

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