Renewed hunger for business expansion

clock

Almost three quarters of companies plan to grow in the coming three years as the economic downturn delivers some tantalizing opportunities to expand, a survey suggests.

Baker Tilly's 2009 Owner-Managed Business (OMB) Survey found, three quarters of firms are planning to make an acquisition or establish a joint venture with former competitors. However, more than half of the respondents predict more redundancies and expect a further drop in sales in the coming year, despite the much lauded "green shoots of recovery". The survey of more than 300 board directors of companies with a turnover of £5m to £50m across all industry sectors, also found, 38% plan to make an acquisition in the next three years, while 35% plan to establish a joint venture in the same...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read