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18th August 2011
Research from Santander shows that companies in Scotland and Northern Ireland expect to see growth of 194 per cent over the coming years.
Directors of businesses with annual revenues of up to £20 million are largely anticipating to double their turnover, although survival remains their goal in the short-term.
Steve Pateman, head of Santander corporate and business banking, said: "Many businesses clearly remain cautious in the current tough trading environment but it's encouraging to see that in the longer-term they are very positive about their prospects."
Small firms were found to be the most optimistic about their growth prospects, as they expect to expand by an average of 138 per cent over the next five years.
The average company with a turnover of less than £500,000 is hoping to grow their business by around 202 per cent during this period.
UK companies reveal 5-year expansion plans
Many companies believe they will expand over the next five years, new figures show.
Research from Santander shows that companies in Scotland and Northern Ireland expect to see growth of 194 per cent over the coming years.
Directors of businesses with annual revenues of up to £20 million are largely anticipating to double their turnover, although survival remains their goal in the short-term.
Steve Pateman, head of Santander corporate and business banking, said: "Many businesses clearly remain cautious in the current tough trading environment but it's encouraging to see that in the longer-term they are very positive about their prospects."
Small firms were found to be the most optimistic about their growth prospects, as they expect to expand by an average of 138 per cent over the next five years.
The average company with a turnover of less than £500,000 is hoping to grow their business by around 202 per cent during this period.
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