FSB reports record confidence levels

The latest survey results from the FSB reveal record confidence levels among UK small businesses.

The Small Business Index – the FSB’s measure of confidence – reached +41 points in the third quarter breaking the previous record of +39.7.

It is the first time the sentiment has reached this level with every sector recording a positive outlook for the upcoming three months.

A total of 61% of the small businesses are expecting to grow in the next 12 months. These results make it the seventh consecutive quarter that small businesses have been positive about their outlook, again underlining the pivotal role small businesses have played in the economic recovery.

Small firms also reported good news on turnover, profits and job creation.

Rob Ballantyne of the Financial Management Centre Warwick said: “Things are going really well at the moment. My turnover has increased by around 25% compared to last year and I’m looking to recruit a new member or staff in the next one to two months.”

However, weak consumer demand and growing skills shortages are still key issues that must be addressed.