Survey shows green shoots in UK SME sector

Back on June 30th the UK Federation of Small Businesses (FSB) released some stats showing that sentiment in the UK small business sector is improving.  In summary:

A comparison of FSB data collected over the past ten months suggests that the economic position small businesses are in is starting to improve since a low point at the end of last year.

And a couple of specifics:

  • 23% of small businesses are now reporting an increase in trade, up from 16% in February
  • The proportion of small businesses highlighting the cost of finance as a concern has fallen to 25% from a high of 40% at the end of last year
  • Confidence is now pretty high – with 57% saying they are ‘quite confident’ and 68% planning to grow over the next six months

This is all good to hear, and very welcome news.  A small caveat is appropriate though – the FSB’s members are in general smaller businesses with smaller aspirations than those that most of us work with (nothing wrong with that at all, and there may be a lot to envy about it), but it would be wrong to expect a one-to-one mapping of their prospects with those of the tech startup community.

I promised to blog this a couple of weeks ago, so apologies for the fact that the news it is a little old, but the data is still interesting and I’m keen to make amends.

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