A Swansea-based businessman is hoping for continued growth in 2017, as the latest SME Growth Tracker shows a fall in business confidence. Stephen Hewitt owns Character.com, which sells children’s clothes through Amazon Marketplace.
The SME Growth Tracker is a report by Capital Economics commissioned by Amazon UK and Enterprise Nation that assesses growth prospects and views on the broader UK economy from small and medium-sized enterprises (SMEs).
Commenting on the latest SME Growth Tracker findings, Stephen said:
“2016 was a great year for us at Character.com with profit and revenue up, but we realise that the next 12 months could be a bit more challenging for SMEs like us across Wales. There is still opportunity for growth though, as more and more companies join us in selling products online through Amazon Marketplace. With a familiar website and a reliable reviews and payment system, customers know they can trust it and for businesses it means we can continue to grow, selling products to customers all over the world.”
Across Wales, the SME Growth Tracker found:
- Revenue to increase: SMEs in Wales are predicting revenue to increase, by 0.8 per cent, over the coming twelve months.
- Confidence down: Welsh SMEs are expecting business conditions to toughen over the next 12 months, with a score of -13.
- Jobs growth: SMEs across Wales expect to increase jobs by 0.8 per cent, after they increased headcount by 0.5 per cent over the past twelve months.