Optimism encouraging among SMEs
Sep 23 2011
SMEs remain optimistic about the outlook for their own businesses
UK business owners are among the least confident about the national and global economies, but remain optimistic about the outlook for their own businesses over the coming six months, research finds.
Businesses in the East of England are particularly upbeat about the long-term prospects for businesses in the region, with 77 per cent of companies in the area believing they are equipped to compete at a national level, according to a study by business software company Sage.
London business owners are similarly confident in their region’s position, with 53 per cent saying they are confident that businesses in the region can continue to compete internationally in the long term.
However, barely a quarter (25 per cent) of business owners believe the government is doing enough to provide the necessary support and advice required to nurture growth and stimulate economic recovery.
In the North East of England, just 11 per cent of businesses believe they are getting enough government support and advice, with organisations in the region citing this lack of support as the primary barrier to their competitiveness at a national and international level.
UK businesses also take aim at red tape, with 62 per cent citing government bureaucracy and legislation as the least favourable aspect of doing business in Britain. Respondents were particularly critical of current health and safety regulations, identifying this as the most burdensome area of red tape they have to contend with.
Brendan Flattery, CEO of Sage UK and Ireland says, ‘As in most countries across the world, British businesses have suffered a difficult few years, and are now facing continued economic uncertainty. Speaking to many of our UK customers however, I am consistently encouraged by the depth of talent, the capacity to innovate, and the resilience they are able to demonstrate, not just in pockets, but in every region throughout the country.
'While many organisations are preparing for a challenging six months ahead, there’s good reason to be confident in the long-term prospects for the UK business landscape.'
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