By Maximilian Clarke

Optimism and confidence in growth are coursing through the veins of UK’s small and medium sized enterprises (SMEs), according to new research from HSBC Commercial Bank, with more than 8 out of 10 SMEs believing they will grow over the next 12 months.

In fact, one in five smaller firms are aspiring to grow market share or become the market-leader as a result of their growth in the coming year, an impressive 14% of firms are starting to trade internationally to generate growth, while 6 in 10 expect to increase their turnover. One in five businesses are simply looking to keep up with the competition, and 17% are looking to power their business growth by investing in new equipment.

To further support firms in realising their growth ambitions, HSBC is adding the Employer Business Loan, which can provide market-leading business loans as low as 4.9% AIR, and its International Business Overdraft, to its portfolio of business funding. This follows successful pilots and feedback from new and existing customers.

“It is encouraging to see UK SMEs looking ahead to next year with optimism and a desire to grow their businesses, even to achieve market-leader status,” comments Jacques-Emmanuel Blanchet, Head of Commercial Banking UK at HSBC. “Every week HSBC helps more than 2,000 people start their own business, and we continually work with our customers to enable them to achieve their individual goals and aspirations.

“Following positive feedback we have now added the Employer Business Loan and the International Business Overdraft to our portfolio of funding options for SMEs, so those who are taking on new staff or trading internationally can make borrowing more affordable. We urge all small businesses to be proactive and consider the important funding they may need to grow successfully, whether they are growing their workforce, expanding overseas or expanding in another way.”

The Employer Business Loan provides a reduction in interest rate of 1% for each new employee taken on, up to a maximum of 3%, making business loans available from 4.9%. Alternatively, businesses who employ someone in the following six months receive 10% of the interest paid as cash back, up to a maximum of 30%.

The International Business Overdraft, offers a reduced interest rate for each overseas country a business is trading with, up to a maximum of 3% for the first 12 months.

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