Lambert Roper & Horsfield Limited Accountants Calderdale, Huddersfield
Business Services

Most businesses are very good at providing the products and services that their customers need – but running a business involves much more than that.

Click here to find out more...

Private Clients

The financial world is a complicated place and there are times when you’ll need some expert help.

Click here to find out more...

Wealth Management

When it comes to your finances, taking time out to seek expert advice is always a wise investment.

Click here to find out more...

Specialist Services

We also provide specialist services to a range of other clients.

Click here to find out more...

You are here: Home » Latest News » SMEs optimistic and frustrated as economy set to thrive

SMEs optimistic and frustrated as economy set to thrive


With predictions that the UK economy is set to grow at its fastest pace in 80 years and could recover to its pre-pandemic size by the end of this year, SME owners are feeling more optimistic and are keen to invest in growth.

However, they are also frustrated by the mix of financial options open to them, according to a survey from the Association of Chartered Certified Accountants (ACCA) and The Corporate Finance Network (CFN).

Their wish to invest is buoyed by the latest figures from the Office for National Statistics (ONS) which show UK gross domestic product (GDP) for the second quarter is estimated to have increased by 4.8 per cent, which is now 4.4 per cent below the pre-pandemic level at the end of 2019.

There have been increases in services, production and construction output over the quarter, with the largest contributors coming from wholesale and retail trade, accommodation and food service activities and education.

This will be a boost for the large majority of SMEs who are now planning for expansion, with new research from Paragon Bank showing that six in 10 are increasing their innovation budget compared to pre-Covid levels.

More than 75 per cent of business owners list innovation as a key priority to recovery.

But they say they are struggling for financial help in the form of overdrafts and other options like mortgages and leases.

This has not been helped following the winding down of many of the Government-backed support schemes. They are also frustrated at being unable to find the right blend of financing for success.

According to the joint survey this has caused mental health problems with bosses feeling more stressed and anxious.

The difficulties of obtaining finance could not come at a worse time as they are desperate to get back to some normality and go for growth in the future.

Link: SMEs feel confident but frustrated by lack of financial backing

The New LRH Client Portal


We are delighted to announce that the LRH client portal (powered by Onvio, a Thomson Reuters company) is now fully operational… Continue reading →

Get in touch!


Telephone: 01422 360788

Email: mail@lrh.co.uk