UK Small Business Confidence Falls to Three Year Low
It’s believed global economic fears and the upcoming Brexit referendum are further fuelling uncertainty
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.”