Despite the high market saturation and the hugely competitive nature of business in the capital, recent research has suggested London based SMEs are set to experience a lucrative future. London based direct marketing firm, Ventas Central looks at what this means for London based businesses.
Direct sales and marketing specialists Ventas Central have looked into research of the growth prospects of those businesses in London, compared to their Northern counterparts. The gap between London based businesses and those in the North is estimated to more than double over the next 10 years, according to research.
About Ventas Central: http://www.ventascentral.com
London based firms are more optimistic about growth prospects, with those surveyed projecting revenues to increase by an average of 44% in the next ten years. In money terms the estimated growth will see revenue rise from £162,000 to £528,000 by 2025.These sums are twice the expected turnover for small business leaders in the North, according to a study by Everline and the Centre for Economic and Business Research (CEBR).Northern businesses are expecting an average growth of just 33%, a whopping 11% less than those in the capital.In monetary terms, the revenues are expected to rise from £65,000 to £263,000, with most shockingly a 20% of businesses expecting no increase at all.
The most pessimistic about their growth prospects are business decision-makers in the South, but outside London with 24% are predicting zero turn over by 2025.
The average small business in London is anticipating an increase of 33%, £61,000.In The Midlands, businesses are expecting slightly less growth, 31% or £63,000 and in Scotland, 37% or £80,000.The most confident sectors are media, marketing, PR and sales; they are expecting revenues to increase by over 45% which would be a potential turnover of £330,000 in the next ten years.
London is an extremely popular city of thriving small businesses and start-ups for many reasons. Most notably because it is a very diverse market with lots of different cultures and nationalities. The vast opportunities for development, training and mentoring that London offers for business development plays a crucial part in its success. It is a city brimming with entrepreneurs and therefore provides incredible networking opportunities.
CEO Russell Gould of Everline, the company that helped conduct the research, believes that with the average turnover of small businesses in London already more than 80% higher than that of other regions in the UK. Businesses in the capital are set to move further ahead, with revenues forecast to increase by around £162,000 by 2025 compared to the £82,000 increase expected around the country as a whole.
London and its resources are an entrepreneur's dream.The new research is great news for Britain's capital and on the back of this research, Ventas Central believe that it will encourage many more young entrepreneurs to launch their project.There is great confidence and optimism amongst businesses in London and Ventas Central is urging entrepreneurs to capitalise on the growth opportunities and grab a piece of the pie for themselves and become a part of the bright future.
Ventas Central are an outsourcing solution that delivers flawlessly executed promotional programs and strategically designed sales and marketing campaigns throughout the United Kingdom.The firm's experience in the industry can help their clients produce maximum market penetration through human interaction.The firm has a client portfolio boasting some of the UK's largest and most recognised. The firm's innovative and radical approach allows them to be either an entire sales force for a company or just one critical portion of an overall channel strategy.
Press release distributed by Pressat on behalf of Ventas Central, on Tuesday 25 August, 2015. For more information subscribe and follow http://www.pressat.co.uk/