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Pandemic prompts rise in support for local businesses
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Boost to small businesses thanks to lockdown hobbies
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UK – Business-to-business (B2B) sector growth in 2021 is anticipated to be 1.4% year-on-year in the UK with 70% of firms positive for their prospects over the next 12 months, according to research from American Express.
The global business spending indicator (GBSI) found that spending was up by an average of 2.7% from the fourth quarter of 2020 to the first quarter of 2021, and predicted a 0.9% growth from the first quarter of 2021 to the second quarter.
Remaining competitive ( 32%), securing new business ( 33%), and increasing profitability ( 32%) were the top three priorities for UK businesses in the next year, according to the GBSI.
The study surveyed more than 3,600 companies across Australia, Canada, Japan, Mexico, the UK and the US, with similar proportions of sole traders and micro, small, medium-sized and large businesses.
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