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Hard graft and innovation strengthens business

Hard graft and innovation strengthens business

Category: Business

Updated: 19/10/2012
First Published: 19/10/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

British businesses believe they will grow by 60% over the next two years as a result of business leaders adopting 'clever strategies' and 'smart finance tools' to drive profit.

According to a new report by HSBC Commercial Banking, individuals known as 'Growth Pioneers' are applying initiative and strategy to help steer their companies towards recovery.

A clear-cut, no-nonsense approach to business appears to be paying off, with so-called 'Beacons of Hope' providing many businesses with a view to capitalise over the next couple of years.

Investing in key strategies such as innovation and diversification appear to be reaping rewards. In fact, around 90% of firms claimed unexpected benefits had emerged as a result of the credit crisis.

Steve Box, HSBC head of Trade and Receivables Finance, said: "This report reveals the hidden successes we are seeing on a daily basis; British businesses getting on and growing despite the economic downturn.

"These inspirational business leaders hold the key to trading the country out of recession and are using smarter finance solutions and innovative thinking to strengthen both their position and that of the future UK economy.

"Growth Pioneers have put smart finance practices at the heart of their success and we continue to work in partnership with forward-thinking companies to capitalise on the positive trends this report unveils."

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