OREANDA-NEWS. February 26, 2013. This year, SEB clients that are farms in Estonia are planning more investments than other types of companies – a conclusion suggested by a survey conducted by SEB amongst its clients.

This year, investments over EUR 30 000 are being planned by 65 per cent of the farms amongst the respondents to the survey, whereas the figure is significantly lower for the corporate respondents overall: 48 per cent. Innovation this year is being planned by 67 per cent of farms, topping the Estonian average (62 per cent).

“Whereas in other business sectors it is innovation that contributes to growth in export activity, only 18 per cent of farms are intending to grow on their existing markets abroad or to enter new ones. This indicates that, in spite of a high level of readiness to raise the efficiency of production, modesty prevails when it comes to direct exports. All the exporters, current and future, see innovations to their final product as the key to their success,” said Eerika Vaikmae-Koit, Head of the Retail Banking and e-Technology Area at SEB.

A few exceptions aside, farms are predicting growth in their turnovers; however, significant revenue increases – over 15 per cent – are being foreseen by 14 per cent of the respondents, whereas the figure is 19 per cent for the corporate respondents overall.

Of the respondents, intentions to hire staff in 2013 were reported by 26 per cent, whereas the figure is 18 per cent for farms.

In October and November 2012, representatives of SEB visited 927 of Estonia’s small and medium-size enterprises, in all 15 counties. SEB conducted a survey of the companies whose owners and managers were able to assess turnover developments, staff number changes, export and innovation plans, and proposed investments at their companies in 2013. Farms made up 15 per cent of the respondents to the Estonia-wide survey.