Small business confidence takes huge leap in Q3
It seems – finally – that confidence among small businesses just like yours has grown considerably in the last quarter. The Federation of Small Business (FSB) represents more than 200,000 small firms across the UK, and has reported that its quarterly confidence score has doubled from the April-June period to a whopping 33.5 on the scale between July and September.
The results were so positive that prime minister David Cameron was even moved to comment, saying the survey was an “encouraging sign that the economy is turning a corner”.
Before this, the highest score since the scale started in 2010 was 18, so it is safe to say things are definitely starting to look rosier. A spokesman for the FSB said: "For the first time since the report began, more firms are looking to take on staff than reduce their workforce, and spare capacity has fallen back, meaning that more firms feel confident to grow."
Of those polled, 21 per cent said that they are looking to increase investment in the next 12 months, with financial, business services and tech firms being the most confident sectors of all. It isn’t all good news though – while in London the optimism score reached 46 per cent, in the North East confidence was actually lower than in the last quarter.
Chairman of the FSB John Allan added: "This is the most positive report that the FSB has published for some time and gives further confidence to policymakers and the government that steady growth is back on the agenda."
We couldn’t agree more. Here’s to more even greater confidence in all areas in the next quarter!