Every second company in Lithuania plans expansion in the coming years

More than half of Lithuanian companies are planning for growth in the next few years, according to a recent survey. The study indicates that 31% of businesses expect moderate expansion, while an additional 14% plan to actively increase their operational scope and investments. Another 30% aim to maintain stability in their operations and revenue.

However, a smaller segment of businesses, around 9%, anticipates a decrease in revenue and a greater focus on cost control. Furthermore, 6% of company representatives are considering ceasing operations. The remaining 10% find it difficult to predict their prospects in the coming years.

Companies are strategically focusing on enhancing competitiveness. The survey reveals that 32% of businesses plan to develop new products, 26% intend to digitize their processes, and 23% will invest in enhancing employee competencies. Additionally, 20% of companies plan to invest in productivity-boosting technologies and expand production capacity.

To build resilience against current challenges, companies identify reduced dependence on fluctuations in raw material or energy prices and increased productivity as crucial factors. These were cited by 29% of respondents. Higher-skilled employees, broader geographical sales reach, and increased state support were also mentioned as important factors by 26%, 25%, and 19% of businesses, respectively. Manufacturing and agricultural firms particularly emphasized reducing reliance on volatile input prices (48%), while the trade sector prioritized productivity (37%) and geographical expansion (35%). Service companies more frequently highlighted the need for higher-qualified staff (28%).

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Today, businesses evaluate more carefully where investments can yield the highest returns. It is increasingly important for companies not only to increase the scope of operations but also to improve the results achieved with existing people and resources. This allows preparation for expansion without increasing costs faster than the business itself grows