Home // Latest News // Economy // Small business confidence continues to rise

Small business confidence continues to rise

UK small business confidence is at its highest level in over a year, according to the latest Federation of Small Businesses (FSB) Small Business Index (SBI).

Despite a rise in business costs there has been a strong recovery pushed forward due to increased international trade.

A net balance of 15.6 percent of small firms reported a rise in export activity over the past three months. International sales are also expected to increase by 30.5 percent over the next quarter.

Mike Cherry, FSB national chairman, said: “It’s hugely encouraging to see our small businesses trading more overseas, driving an exports-led recovery.

“We know small firms that export have higher turnovers than those who rely on the domestic market, so it’s crucial that the Government maximises cross-border trade opportunities for small firms.”

Fuel and labour increases have been cited as the main cause of increased operation costs, with a net balance of 64.5 percent of small firms reporting a rise over the past quarter.

Mike Cherry continued: “At a time of unprecedented political and economic uncertainty, small firms are being hit from all sides by mounting cost pressures.

“This month alone many have had to absorb a hike in business rates and the National Living Wage. Added to this are costs that have steadily risen, such as fuel, which our members are increasingly pointing to as a major cause of higher outgoings.”


About Domonique Wilsher

Domonique Wilsher
A graduate with a degree in Journalism, Dom enjoys reading and perfecting her cupcake making skills. Please feel free to drop her an email for any potential news stories.

Check Also

New law provides grieving parents with more leave

Employees who have suffered the death of a child will benefit from significant new paid …