FPB: Small firms growing confident
May 26 2009
A Forum of Private Business (FPB) poll reveals confidence is returning to small companies, despite adverse factors affecting cash flow.
The latest Economic Downturn Panel survey shows that 26 per cent of the group's members believe the 'viability' of their business improved in the last month, more than double the number say it declined.
However, the poll reveals that key issues are still concerning small firms, with 18 per cent of owners saying that bank support has deteriorated in the past four weeks.
Furthermore, eight per cent are worried by exchange rates and the value of sterling, with the same proportion concerned by a lack of finance and six per cent finding difficulty gaining and retaining new business.
Phil Orford, chief executive of the FPB, comments: 'Significantly more business owners can see a future for their companies than are pessimistic about their chances of survival.'
He also says that the government must 'nurture' business confidence by addressing the cost of lending and introducing policies to further stimulate the economy.
Research by accountancy firm BDO Stoy Hayward recently claimed that UK and mainland European businesses are experiencing a return of confidence, with increasing numbers believing the recession has bottomed out.
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