OREANDA-NEWS. November 13, 2013. A survey conducted among our corporate clients in the county, “Hiiumaa Business Barometer 2014”, shows that many enterprises are predicting a rise in turnover.

“Businesses are predicting a rise in turnover figures, and while there are few plans to seize new export markets, the enterprises in Hiiumaa are looking towards the mainland and nearby external markets like Finland and Sweden,” comments Eerika-Vaikmae-Koit, Head of Retail Banking and Technology and Member of the Management Board of SEB Pank.

Businesses in Hiiumaa are just as optimistic about the growth in turnover in 2014 as they were a year ago — 25% predict a growth in turnover of over 15%, fuelled mainly by industrial enterprises and the building and construction sector.

When compared to the previous survey, there has been a significant decline in the number of enterprises in Hiiumaa that wish to enter new export markets or expand activities in existing markets: from 85% to 33%.

Investments exceeding EUR 30,000 are planned by 42% of the 12 enterprises surveyed in Hiiumaa, while the same answer was given by 85% of respondents last year. Some of the enterprises are planning on creating new jobs, but they amount to 42% (85% last year).

Innovative activities are planned by 92% of the businesses operating in Hiiumaa, which is a slight increase (from 85%).

This autumn, SEB conducted its second counselling programme across Estonia, in the framework of which representatives from the bank visited 900 Estonian small and medium-sized enterprises in 15 counties to help them prepare a financial analysis for next year.

As part of this counselling project SEB also compiled a survey, called the Business Barometer, which was to map out the entrepreneurs’ expectations for the year 2014. The entrepreneurs assessed future turnover developments, changes in the number of staff, export and innovation plans, and proposed investments in their companies in 2014.