Small business confidence at a high, according to study

Small business confidence is at an all-time high for 2016 in the UK, according to a study from Hitachi Capital Business Finance.

The study surveyed 1,006 small and medium-sized enterprise owners, questioning them on the outlook of their business for the coming three months, and found that business confidence has increased by 11 per cent from the last quarter.

Peak

Small business confidence has hit a peak after a period of uncertainty from July to September, with 43 per cent of UK SMEs now feeling positive about their future.

The study found that there has been a 9 per cent jump from the third quarter to the final three months from SMEs who believe that their business would remain consistent to those expecting moderate or significant growth in their business.

The number of small businesses that feel nervous about the future of their business is the lowest that it has been this year, and lower than it was in the previous quarter of 2014 and 2015.

Positive

Commenting on the research, Hitachi Capital Business Finance Managing Director, Gavin Wraith-Carter, said that it shows just how resilient the UK’s SMEs are and that small businesses are resilient and able to change adverse situations to positive outcomes no matter what is thrown at them. 

He added: “As a provider of alternative finance to small and medium sized enterprises, it is reassuring to have this positivity and to be able to see the bigger picture fully. As our customers grow we grow with them and welcome the news that SME confidence is on the up. Whatever the weather we will always be here to support them.”