The best business advice, opinion, news and expertise in Greater Manchester and further afield.

Tuesday, 1 December 2015

Member Blog: A Record High for SME Confidence

By Vince Tovey - Davenham Trade Finance
Small businesses across the UK are set to continue to grow and thrive, as the latest Small Business Index revealed an all-time high in confidence. With everything from improved productivity and revenue to an increase in wages and aspirations to grow, all statistics found in the latest quarter have shown a positive incline across the majority of fields – all in all, a great outcome for SMEs.

This latest research has shown that a huge 65.3% of UK businesses aspire to grow moderately or rapidly over the coming months, therefore viewing their prospects for the future very positively. Not only this, but small businesses’ profits and revenue are also on the rise, with 24.1% reporting increased revenues and 17.4% seeing higher profits. Overall, confidence levels are sitting at +37.9, up from +28.7 in the previous quarter, a result of which is caused by an increase in productivity – a domino effect perhaps?

When it comes to trade finance, it was interesting to see a rise in SMEs who are exporting to 28.6%, in addition to one third of businesses planning to increase capital investment within the next year.

With this positive increase in mind, it is essential that the government provides and develops an effective support system for the ever-rising amount of small businesses planning to grow and invest in the coming years. This will ensure that these record levels of confidence continue to increase, and in turn the growth of the UK economy will hopefully benefit highly.

Are you experiencing growth and increased confidence, or is this something you are yet to see within your small business? Join in the conversation and tweet us @SMETradeFinance – we want to hear what real, local businesses have to say on this topic.

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