SMEs divided over UK economic health

Currency volatility and the effect of the Eurozone are among contributing factors to a feeling of unease among Britain’s small and medium-sized enterprises (SMEs).

 

But not everyone feels this way – 54 per cent of SMEs have said they are confident in the health of the economy, while 45 per cent felt less so.

 

That is according to data from the Western Business Solutions International Trade Monitor (ITM), which surveyed over 600 SMEs about the health of the economy in the UK.

 

On the plus side, confidence in the global economy fared slightly better, with 65 per cent of respondents saying they felt positive about international trade conditions and growth of smaller businesses.

 

Jonathan Rees, UK regional divisional director at Western Union Business Solutions, said: “The split between views on the health of the UK economy suggests that while some SMEs are doing well and recovering, others are struggling in the face of cheaper international competition, decreasing sales and increasing production costs.”

 

While there’s no doubt that times are tough, I for one think it’s important to remain positive and face financial challenges head on.

 

Posted by the Secret Businessman