86% of businesses predict up to 20% growth in 2013

Government-backed GrowthAccelerator research suggests businesses plan to grow workforce despite economic challenges

Research undertaken by GrowthAccelerator suggests the majority of business owners are expecting growth of up to 20% in 2013. The study of 500 business owners found that 86% of respondents predict such growth for this year, despite the majority of participants acknowledging the challenges that the recession will continue to present for business. Launched in May 2012, government-backed GrowthAccelerator is a three year programme designed to support fast growth businesses through coaching and networking opportunities. Most participants of the survey, carried out by the £200m accelerator programme cited growing the workforce as the biggest ambition for 2013, while the most popular method of pursuing growth among the participants was investing in staff training. Simon Littlewood, head of business growth services at GrowthAccelerator feels that the results represent the resilience of the UK’s fast growing businesses. He said: “In prioritising investment in staff training next year fast-growing businesses are showing they have faith in the strength of their business models. “The impact of the recession has hit hard for many companies and we know from the businesses we work with every day that there is nonetheless huge ambition and drive among the UK’s business owners.”

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