The new research from Avondale reveals that 94 per cent of of UK business owners are currently struggling to retain second tier management within their organisation.
The report was released following an exclusive roundtable event attended by spokespeople from Avondale, FD Solutions, Holmesdale Building Society, Jellyfish, PHD Equity Partners, Templefield Property and CV Capital.
Commissioned by Avondale,, the report examines the current state of UK businesses and looks at whether they are in a state of growth or survival, the most successful routes to growth and the key challenges businesses will face in 2015. Amongst its results it found:
- Two thirds of UK businesses surveyed are in a state of growth
- The research revealed that new products and increased marketing were key routes to growth with 62 per cent of all respondents utilising marketing and a further 48 per cent launching new products
- 36 per cent of all respondents said they will consider an acquisition in the next 24 months and method to grow their business.
The research suggests that the larger the company, the more likely they are to acquire with 60 per cent of businesses turning over £10M+ saying they have completed an acquisition in the past 24 months
Kevin Uphill, Chairman of Avondale comments: “The last 12 months has proved to be a successful year for UK businesses as the stabilising economy has allowed them to make calculated risks to achieve real growth. We are thrilled to launch the first ever ‘Growth Versus Survival Report’ looking at the current state of the business landscape and allow us to examine the methods these companies use to maximise growth.”
He adds: “The report has highlighted that whilst the majority of businesses are growing, retaining middle management remains a common problem for UK companies. This lack of second tier leadership has led to business owners focusing on the day-to-day running of their organisations as opposed to concentrating on the overall strategy and in a sense, could be impeding their own long-term growth.”