New research has found that confidence among businesses is currently at its highest point in three years.
The Federation of Small Businesses’ (FSB) Small Business Index reached its second highest reading since the quarterly index began in 2010. The confidence index recorded 15.9 points in the second quarter of 2013, 9.6 points higher than the start of the year.
John Allan, National Chairman of the FSB, said “After five consecutive quarters of year-on-year growth, confidence is moving in the right direction, Small firms want to employ more people and grow their business. They want to export and expect turnover levels to increase. This is all good news, but we must not be complacent.”
The Chancellor is due to deliver the Spending review later this month, and the FSB sees this as an opportunity to build on the confidence levels of small businesses.
John Allan went on to say “The Chancellor must use the Spending Review to build on this optimism. While there are positive signs, inflation and not being able to access finance will affect how quickly, and how much, small firms can grow and create jobs.”