Small Business Confidence Rebounds In the South East

About 94 per cent of small businesses in the South East expect to remain the same size or expand operations over the next year, according to the latest findings by the Federation of Small Businesses (FSB). 

The report also revealed amid a fall in the value of the pound, four in ten exporters surveyed expect to increase overseas sales in the next quarter. It added that UK small business confidence in the last quarter bounced back to the level reported before the EU referendum campaign began and FSB’s Small Business Index (SBI) has now moved into positive territory.

The headline confidence measure now stands at +8.5, up from -2.9 in the previous quarter and reaching approximately the same level as it stood at the start of 2016 at +8.6.

Mike Cherry, national chairman at the Federation of Small Businesses, said: "We are delighted to see confidence bounce back at the end of 2016, effectively wiping out the fall we saw over the course of the year in the run-up to the EU referendum and its immediate fallout. The current economic outlook seems brighter, and UK small businesses are ambitious and want to make the most of it.

"Small exporters continue their strong rise, as UK goods and services become more competitive overseas and small businesses go out to find new markets and new customers."

He added: "Despite the overall positive picture, our members still face many challenges as rising costs squeeze margins even further. The falling pound is driving up the price of imports and rising oil prices are being reflected in higher fuel costs. These inflationary pressures and price competition are hitting the bottom line hard with the majority of small firms seeing their profits continue to fall."

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