ACCA and IMA Global Survey Finds “Robust Recovery” for Small and Medium-Sized Enterprises
In the 2nd global SME Performance analysis, Association of Chartered Certified Accountants (ACCA) and Institute of Management Accountants (IMA) have found that economic position and confidence level of SMEs (Small and Medium Enterprises) has widelyenhancedin the year to June 2014. According tothe performance review(Back in Game report) conducted collectively by ACCA and IMA, the favorable steps taken by government and the better investment atmosphere in UK has affected the SMEs in a positive way.
The senior policy advisor of ACCA, Charlotte Chung,said that along with Singapore and UAE, UK have had the friendliest policies for SMEs in the year to June 2014. The SMEs confidence about the long life of the governmental fiscal policy is boosting them to make investments and build new employment opportunities for the public.He added that investment atmosphere has become better in the UK and worldwide for SMEs. This is mainly because of increase in capital and lucrative investment prospects. Finally the SMEs, which were squeezed before 2013, were able to gain access to financial capital in the year under discussion. SMEs in UAE, Ireland and UK experienced the best improvements.
SMEs which had been affected most by the recession have appeared to be more resilienthistorically than their counterparts which are bigger in size. SMEs are availing new opportunities by originating new ideas and entering into new markets.
Ph.D., CMA, CPA and the vice president of IMA,Reaf Lawson,said that SMEs have potential for growth and are the most striving type of business groups. He added that a great number of jobs have been created by the SMEs in the period 2013 to 2014. Their efforts emphasizing on the creating job opportunities and staff development indicates a difference in priorities over resource allocation among different types of business groups.