Small and medium-sized enterprises (SMEs) in the Baltic States anticipate increases in their turnover in 2014, according to a survey conducted by SEB banka, informs LETA/Nozare.lv.25% of SMEs in Estonia predict that their turnover will grow more than 15% this year. 67% estimate that their turnover will increase up to 14%, 8% expect reductions in their turnover.
In Latvia, 13% of SMEs estimate that their turnover will grow more than 15% this year. 74% predict that their turnover will grow up to 14%. 13% anticipate reductions in their turnover.
In Lithuania, 19% of SMEs expect that their turnover will rise more than 15%. 69% expect that their turnover will increase up to 14%. 11% predict reductions in their turnover.
These companies expect that their turnover will increase due to growth on internal markets, as opposed to export. 69% of SMES in Estonia and Lithuania, as well as 74% of SMEs in Latvia intend to focus on internal markets this year.
16% of SMEs in Estonia, 14% in Latvia and 17% in Lithuania plan to expand their operations on export markets this year.
According to the data, companies in the Baltic countries associate their growth in turnover with domestic markets and increase in local demand, not with export. 69% of companies in Lithuania, 69% of companies in Estonia and 74% of companies in Latvia will pay all their attention to the local markets, writes LETA/ELTA.
Meanwhile, 30% of companies in Lithuania, 31% of companies in Estonia and 28% of companies in Latvia have expansion plans abroad.
From the three Baltic countries, Estonians plan to invest mostly – 61% of companies. 34% of companies in Lithuania and 37% of companies in Latvia plan to implement investment projects.
In Estonia, 26% of companies plan to employ new staff, while 22% of SMEs in Lithuania and only 14% of companies in Latvia have such plans.
Almost 3,700 companies in the three Baltic countries were polled.
Source: The Baltic Course