Small and medium-sized enterprises (SMEs) are reassuringly confident in the UK’s economy, however, this hasn’t necessarily translated to business growth.
While confidence has moved from a rating of 49.2 in January to 51.0 this quarter – according to a report by Quoted Companies Alliance (QCA) and accountancy firm BDO – this does not mean SMEs have enjoyed a sense of financial growth as of yet.
However, this rating does mark the highest score since the index began in September 2011 and it is also the first time that confidence has broken through the 50.0 mark, which indicates optimism.
Now the challenge is to match growth expectations with confidence levels in order to help SMEs achieve financial and brand success.
Scott Knight, partner at BDO, said: “It is encouraging that confidence has continued its upward trend, but lacklustre turnover and employment expectations demonstrate that more needs to be done to incentivise growth planning in the sector.”
Posted by the Secret Businessman