More than a quarter (27%) of SMEs view economic uncertainty as their primary concern, with their overall confidence having fallen to a four-year low. This is according to Lloyds Bank’s latest Business in Britain report; so why are companies bracing themselves for the worst?
The number of SME owners feeling confident about the outlook for the economy and their own businesses over the next 12 months has sharply dropped. This is according to the latest quarterly Smith & Williamson Enterprise Index, which suggests that small businesses have largely responded unfavourably to Brexit. Could there, however, still be a chink of light at the end of the tunnel?
British SMEs are optimistic of increasing sales in the coming months, according to the recent SME Confidence Tracker from invoice finance experts Bibby Financial Services (BFS). However, the research also revealed that concern remains among SMEs over how an EU exit would shape their country’s economic climate. Looking ahead, what are the potential implications for UK SMEs?