British small business owners are being urged to shed their modesty and celebrate their wins after new research found those who do enjoy significantly faster growth.
A study commissioned by accounting software firm Xero found that UK companies which actively marked milestones with staff saw average annual revenue growth of 30%, compared to just 19% for those that took a “keep calm and carry on” approach.
The survey of 2,300 companies across seven countries — including 300 in the UK — found British business owners were the least likely to celebrate success, with just 55% doing so compared to a global average of 71%.
Among those who chose not to mark achievements such as hitting sales targets or securing key clients, almost two-thirds (64%) said the idea had never crossed their minds.
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