UK SMBs identify poor management as the top internal obstacle to growth

Businesses should prioritise “the internal levers that have the greatest impact” to boost growth in the year ahead.

by Antonia Garrett Peel

UK small and medium businesses (SMBs) see poor management as the top internal barrier to growth, according to a new study.

More than half (58%) of SMBs fear stagnation in 2024, including 53% of businesses that reported growth in 2023, according to research from communication platform Slack and charity Be the Business.

UK firms find the most challenging stage of change to be when they exceed 25 employees and £100,000 in revenue, the study revealed.

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