small business confidence

3 In A Row: Small Business Confidence Up For Third Successive Quarter

3 In A Row: Small Business Confidence Up For Third Successive Quarter

UK small businesses confidence has increased for a third consecutive quarter, according to a report by Capital Economics. The SME Growth Tracker of 2017 has revealed that, on average, small and medium sized enterprises are predicting a 2.3% increase in revenue for the coming 12 months. When broken down by region, firms in the North East are the most optimistic in the country, with a SME Confidence Index score of +11 – far acceding the national average. In contrast, business owners in Wales are more pessimistic about the future, with their SME Confidence Index score of -2 suggesting they believe they’ll suffer a dip in performance over the next 12 months. Despite the general optimism, it appears that businesses are worried about the potential of rising inflation and increased supply costs, ... »

Businesses Praying For ‘Soft Brexit’ As Faith In Government Weakens

Businesses Praying For ‘Soft Brexit’ As Faith In Government Weakens

UK small businesses are dreaming of a ‘soft Brexit’, as just 29% have confidence in the government’s ability to protect them after Article 50 is triggered – according to a report by CitySprint. The survey of 1,001 enterprise owners revealed that 79% feel they haven’t received enough information about the potential business impact of Britain officially leaving the EU, with 50% hoping the UK retains access to the single market in return for some concessions to the EU. Just 35% of respondents have said they support a ‘hard Brexit’ which would potentially mean the UK giving up access to the single market, while 15% said they were unsure which option they preferred. When asked what support measures they’d like the government to implement, 49% said slashed taxes, 36% said they’d like... »

Small Business Confidence Higher Than Ever – But Will Trump Victory And Brexit Change It All?

Small Business Confidence Higher Than Ever – But Will Trump Victory And Brexit Change It All?

UK small business confidence is at an all-time high for 2016, according to a report by Hitachi Capital Business Finance. The survey of 1,006 small and medium sized enterprises revealed that small firm optimism increased by 11% on Q3, with 43% of all respondents saying they were in a buoyant mood about the coming months. In contrast, the number of enterprises worried about their outlook during the October to December months matched the lowest numbers recorded for 2016, and small business pessimism is also at its lowest in two years. Despite the increased optimism, it’s been suggested that the surprise election of Donald Trump as US president today could hamper any long term positive feelings in the small business space. Charles Reilly, director of Fridgesmart, believes that while UK exporti... »

Small Business Owners Initially Struggle With Knowledge But Not Confidence

Small Business Owners Initially Struggle With Knowledge But Not Confidence

While many UK small enterprise owners initially struggled with business knowledge, confidence was never a problem – according to a report by the Association of Accounting Technicians (AAT). The survey, polling 501 small and medium-sized business owners (those with fewer than 250 employees), asked entrepreneurs what they wished they’d known when starting their business and 19% said they wished they had spent more time marketing, 11% on finance, 8% on IT, and 5% on PR and social media. 65% of respondents struggled with at least one business area when they started out and, when asked to pinpoint which specific area, 20% of respondents cited a lack of financial knowledge as their biggest initial struggle, compared to marketing (12%) and legal know-how (11%). While this lack of expertise ... »

UK Small Business Confidence Falls to Three Year Low

UK Small Business Confidence Falls to Three Year Low

Confidence amongst UK small enterprises is at a three-year low, according to BDO’s Business Trends survey. The report – which predicts growth six months ahead – found that confidence levels have declined to 100.0, the tipping point below which small businesses can expect their output growth to drop under the long-term trend rate. The survey claimed that global economic fears and the upcoming EU referendum are further fuelling uncertainty and causing business confidence to dip. The report comes just days after a similar report found that UK small business confidence has plummeted. Peter Hemington, partner, BDO LLP, said: “Global headwinds are finally hitting business confidence and the added uncertainty of EU referendum just round the corner is fuelling concerns.” »

50% of UK Business Owners Look to Grow Operations

50% of UK Business Owners Look to Grow Operations

A new level of optimism among small business owners has many wanting to expand with 50% planning to grow operations in the future, according to a new report by Fleximize. Of the 129 businesses surveyed, 42% of entrepreneurs said they intend to develop new products and services, 23% said they had plans to hire more staff and 17% believe they will need larger premises. It was also revealed that 27% of business owners intend to buy new machinery, with one in three planning to expand into new geographical markets. Additionally, the findings indicate growing business revenues and profits. 35% of the businesses surveyed said their revenues were higher than they were 12 months ago while 29% said their profits were also higher over this time period. Fleximize has suggested that the rise in alterna... »

UK Business Confidence “at its Lowest”

UK Business Confidence “at its Lowest”

Small business confidence is at its lowest in over a year, according to the BDO’s latest Business Trends Report, as investment and output drops. Based on its ‘Optimism Index’ which predicts growth six months ahead, business confidence in the economy  is now only just above the average at 101.0 and, although higher at 103.3, sales orders for the next three months is also on a “downward trend” The rate of growth in employment is also dipping, Employment, coming in at 105.2 – the lowest level recorded by BDO since 2014. The report suggests that the drop in business confidence and investment will have a negative effect on the UK’s overall economic growth in 2016. Commenting on the findings, Peter Hemington, partner at BDO LLP, said: “Doubts about the world economy are making the UK’s business ... »