Positive view of North West business confidence
Confidence among small businesses in the region has turned positive, according to the latest Small Business Index from Blackpool-headquartered Federation of Small Businesses.
The SBI stands at +2 in Q2 2018, rising from negative territory (-3) in the last quarter. The region stood at -17 in Q4 2017.
The latest figures show 32 per cent of small businesses expect their performance will improve over the coming three months. A total of 28 per cent believe their performance will worsen.
The proportion of small firms saying that gross profits are steady or increasing is at 58 per cent.
Growth intentions look promising, with the vast majority of small firms (83 per cent) planning to remain the same size or expand in the coming 12 months. The majority (74 per cent) also report steady or increasing headcounts.
Simon Edmondson, FSB North West Regional Chairman said: “It’s good to see small business confidence maintaining its steady rise this month. If we don’t see real progress on Brexit talks soon, however, we run the risk of this confidence being lost.”