As millions of people across the UK think about personal goals such as eating better, taking more exercise or learning a new skill, a new survey by AXA has found that only a quarter (26 per cent) of small business owners will set resolutions at work. And according to the insurer, while most small business leaders know what they’d like to achieve in the coming year, setting a few resolutions to help get there is an opportunity not to be missed.
Darrell Sansom, Managing Director at AXA Business Insurance, said:
“A new year brings the opportunity to refocus on our goals, to think specifically about the things we’d like to achieve, and to consider whether we are best placed to reach our potential.
“Our customers often tell us that as a small business owner, it’s easy to get pulled into day to day tasks – but it’s important not to lose sight of what you first set out to do and how you can take things to the next level. Now is a great time to review your business plan, reflect on what you’re doing well, where you could improve and what you need to do next.
“Little resolutions can offer big rewards, so committing to the things that will progress and protect your business will ensure you’re set to thrive in 2015.”
AXA’s survey found that that while many small businesses may not make formal resolutions, most have plans to invest in the future and a good idea of what they wish to achieve in the coming year.
Business growth and better marketing is a priority for small business leaders in 2015 – and many are turning to technology to achieve this. The small business ‘to-do’ list for the new year shows a further shift to digital and online promotion, with more business leaders clearly recognising the need for a strong online presence and looking to take advantage of the benefits digital communication offers. The survey found that 34 per cent of small businesses are planning to build or upgrade their website this year, and 23 per cent intend to create a stronger social media presence to build social interaction.
Operationally, keeping in good shape and fit for the future is also high on the agenda. Twenty eight per cent of small businesses intend to buy new tools or equipment this year, and its good news for the recruitment market with 16 per cent saying they will take on an extra pair of hands.
Many small businesses are looking to broaden their horizons too – according to the survey, almost one in ten (nine per cent) hope to expand into an overseas market this year.
The survey also found that 14 per cent of small business owners will apply for funding to help achieve their goals in 2015 and over a third (36 per cent) would like Government to resolve to make it easier for them to do so.
Darrell Sansom concludes:
“2015 should be an exciting year for small businesses, and it’s great to hear of so many plans for growth.
“Now is the time to think not just about what you want to achieve, but how you are going to do this, whatever lies ahead. If you haven’t yet made a new year’s resolution for your business, now’s the time to consider it.”
Full media release on www.axa.co.uk