Inaugural study points to gloomy SME health

The health of small and medium-sized enterprises (SMES) in the UK has fallen to its lowest level in three years, it emerged today.

The SME Health Check Index – a new quarterly barometer compiled by think-tank the Centre for Economics and Business Research Limited (CEBR) in association with Clydesdale Bank owner CYBG – measures business performance and the macroeconomic environment affecting SME. Factors include the level of bankruptcies, business costs, confidence, employment, lending and revenue.

Unveiling the maiden report, David Duffy, CYBG chief executive, said: “Small and medium-sized businesses are the absolute engine room of the British economy, and their future prospects are going to be ever more critical in a postbrexit world, where we are dependent on a stronger and more competitive domestic economy.

“It is vital that we understand how SMES are performing.”