Confidence amongst small businesses is 'rebounding', says FSB

29 Mar 2018

Confidence amongst UK small firms is ‘rebounding’, according to a survey carried out by the Federation of Small Businesses (FSB).

In the first quarter of 2018, the FSB’s Small Business Index (SBI), which monitors business confidence, stood at +6, up from -2.5 in the last quarter of 2017.

The SBI indicated that confidence amongst UK small businesses rose as a result of progress in regard to the government’s Brexit talks, and lower inflation levels.

32% of businesses surveyed believe that their performance will improve over the coming three months, whilst 40% predict that their performance will remain the same. 27% are ‘lacking in confidence’ in regard to the next quarter, the FSB found.

Meanwhile, 67% of firms reported that their revenues are either increasing or are stable, and 50% revealed that they plan to expand their business over the coming 12 months.

Commenting on the findings, Mike Cherry, National Chairman of the FSB, said: ‘After a 2017 dogged by spiralling prices and political uncertainty, it’s good to see small business confidence back in the black. The resilience of the small firms and self-employed entrepreneurs that make up 99% of UK businesses has lifted economic forecasts for the coming 12 months.’

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Higgisons was formed by John Higgison in Oxford Street in 1965 and was originally part of the Accountancy Tuition Centre until James McHale became managing partner and the firm moved to its City Road premises in 1982.

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