Business group says confidence in growth is high
The Federation of Small Business (FSB) has released its latest Small Business Index (SBI) showing that small businesses are showing improved confidence in the second quarter of 2015.
Growth and investment plans are some of the highest the SBI has ever shown, with job creation and productivity also expected to progress well throughout the year.
National Chairman of the FSB, John Allen, said: ‘The results of the Q2 SBI are very positive and show the major role that small businesses play in the growth of the UK’s economy. It is critical the new Government continues to develop the right environment to support businesses planning to grow, invest and take on new staff in the next 12 months’.
Confidence levels are remaining steady, showing +37.9 on the SBI compared to +28.7 in the first quarter. Small business revenue is up, with more businesses reporting increased revenues and higher profits.
The SBI also shows that small business average wage increases are now in line with the economy, showing an increase of 1.9%. However, businesses also remain concerned about the cost and availability of skilled workers – 35.4% concerned that this is a barrier to growth.