New research carried out by DocuSign has found that less than a quarter (22%) of small and medium-sized enterprises (SMEs) plan to expand their business beyond the UK.

SMEs stated that the most significant barriers to growth include a lack of available finance, a lack of inexperience and large amounts of red tape.

The survey of 1,000 small business owners also suggested that a ‘perceived deficiency’ in skills is ‘holding them back’. The skills owners most regret not having are accounting and finance skills (22%) and IT and digital skills (19%).

Furthermore, the research revealed that confidence levels amongst SMEs have ‘plummeted’ as a result of trade uncertainty facing the UK.

Ronan Copeland, Vice President of Commercial Sales at DocuSign, said: ‘Growing a business across borders is challenging, particularly in times of macro-economic uncertainty. As such, it is perhaps unsurprising that many small and medium-sized businesses (SMBs) are focusing their efforts on the UK. Confidence plays a big part, and this is borne out by the results of our latest survey.’

To find out how Hawsons can help your small business, please get in touch for your free initial meeting here.

 

Free initial consultation

SME Newsletter Sign-up