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Most UK SMEs feel upbeat about their future

A recent survey of 500 UK SMEs, carried out by Wesleyan bank, showed that over 54% of them were optimistic about the future.

It is the third time the SME Heroes or Zeros survey has been carried out. The SMEs involved are drawn from all parts of the UK and the findings are reflected in several other similar studies and surveys.

For example, the most recent version of the CGA Fourth Business Confidence Survey showed that 75% of the respondents were confident about the future. All of those firms are involved in the hospitality industry.

However, the Bibby SME Confidence Tracker, which covers a far wider range of firms, shows something similar. Confidence levels rose by six points from last year, according to the index they use.

It appears from the survey that fears about Brexit have started to lessen. In 2017, only 28% of the firms who took part in the Heroes to Zeros survey were confident that leaving the EU would not dictate their strategy. This year, 50% of participants do not feel that Brexit would change the way they plan for the future.

The report also uncovered the fact that more SMEs are feeling confident enough to seek external funding. In 2016, only 27% of respondents regularly sought external funding. This year, 59% said they had done so. Accountants from Bebington and the wider Wirral, which voted Remain, are working with their clients to help them to secure the funding they need to grow and prosper.

Posted by Mark
July 3, 2018
Small Business

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