Confidence amongst small businesses is improving – recent figures have shown that business confidence amongst SMEs has risen to its highest level in 3 years, according to the latest Small Business Index from the Federation of Small Businesses (FSB). Released earlier this week, these figures paint a picture of confidence rising across a whole range of sectors within the UK economy.
The Small Business Index reached a high of 15.9 points in the second quarter of 2013, 9.6 points higher than it started at the beginning of the year. This is the second highest reading since this particular Index began in 2010. This shows boosted confidence as we continue through to 2013 which will hopefully set the stage for greater growth amongst the UK’s small businesses in the year to come.
The highest levels of confidence came from financial services firms which possibly reflected the recent peak of the FTSE 100. Somewhat more surprisingly, the manufacturing sector’s small businesses are becoming more optimistic about their prospects, despite recent contractions in output. This suggests that conditions in the sector are beginning to improve at a better rate and companies are starting to look forward to the future.
The Chancellor is due to deliver his Spending Review later on in June, and the FSB believes he needs to use this opportunity to build further on these positive confidence figures. Anything that encourages growth and keeps confidence levels high is called for. This could go a long way to capitalising on this new-found confidence amongst the SME sector.
If your business is looking to grow, then business finance and funding are big considerations. Invoice finance can go a long way to helping ease cash flow worries as well as allowing you to invest further in your business.