Nearly a third (29 per cent) of small business owners are most concerned about surviving without government support after Covid, a nationwide survey has found.
Addition – an outsourced finance solution for small- and medium-sized enterprises (SMEs) and start-ups – has found that a quarter (25 per cent) of business owners cited managing costs as a major concern over the next year.
This was followed by 24 per cent that said attracting and recruiting the right talent was going to be a massive challenge.
“At Addition, we believe it is critical to understand all the concerns business owners have in the short-term, so we can support them through the next 12 months and beyond,” said Graham Davies, founder and chief executive of Addition.
“As government help ends and demand begins to fluctuate alongside the economy, there are many positives for businesses to look forward to – but these changes also bring challenges.
“Understanding your financials is vital to overcome these challenges and drive business growth. At Addition, we don’t just want to take the numbers off your hands. We want to empower you with targeted insights and one on one support – until you’re so big, you don’t need us anymore.”