Prospects for financial service and accountancy SMEs in the new year were given a boost today after a study of the sector found that more than half expect growth in 2013.
With SMEs and entrepreneurs seen by many as key to the country's economic revival, research from The Co-operative Bank has revealed that 58% of in accountancy and financial services believe their sales and orders will rise next year.

The findings also show that almost a third (30%) expect to take on new staff, while a quarter (26%) plan to investment in their business, such as for new equipment or improvements to premises.

Keith Alderson, managing director of Corporate and Business Banking at The Co-operative Bank, said: "SMEs and entrepreneurs are widely acknowledged as vital to Britain's economic recovery so these results are good news as we head in to 2013.
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"As the curtain closes on another tough year it seems many SMEs in financial services and accountancy are now looking forward with a cautious sense of optimism about the challenges for their businesses next year.

"We see this entrepreneurial spirit day-in, day-out in our dealings with customers and I'm not surprised that SMEs are adapting and exploring new markets to overcome the economic challenges."

Asked about the main challenges facing their business in 2013, nine in 10 said the current economic climate is their main concern.

This was followed by red tape and regulation with 50%, cashflow (24%) and rising energy costs (16%).

The study also found that just 14% felt sales and orders would fall in 2013 although a fifth (20%) said they had suffered a decline in 2012.

The study was carried out on the Bank's behalf by YouGov. Total sample size was 512 senior decision makers from SMEs (less than 250 employees). Fieldwork was undertaken between 10-12 December 2012. The survey was carried out online.