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Mixed Picture as FSB polls SMEs in Quarterly Survey

The Federation of Small Businesses (FSB) latest ‘Voice of Small Business’ Index — its quarterly survey of confidence among UK small business — reveals that bank funding is still scarce and confidence is falling among many of the UK’s small businesses. Four in ten small firms have been refused credit by high street banks according to the survey. However, more than 50 per cent of respondents said they still plan to grow their businesses over the coming 12 months. But the proportion of firms looking to grow rapidly shrank from 10.9 per cent in Q1 to 7.2 per cent in Q2. The research also shows a tenth consecutive quarter of job cutbacks with a net balance of 3.9% of respondents announcing layoffs. Of 17 industry sectors measured, confidence fell in all but two. Confidence rose mode... »