New research by the Centre for Economics and Business Research (Cebr) and Hampshire Trust Bank,  predicts that SME contributions to the UK economy will grow by 19 percent from 2016 to 2025. In 2016, SME employment across ten cities considered in the report were around 3.9 million. In 2025, the researchers expect the number to increase by one million.

However, only one in five SMEs feel optimistic about their industry’s long-term economic prospects. The report explores several reasons, with one being obtaining a financial barrier – 42 percent or one in nine respondents stating so.