UK SME risk index up but confidence remains

The perception of business risk among UK SMES increased in the first quarter of this year from the previous three months, although they remain calm, according to new research.

Insurer Zurich’s latest SME Risk Index of over 1,100 UK SME owners now sits at 38.81, up just over 6 per cent from its all-time low of 36.72 six months ago. It said fear over the UK’S economic and business environment “has risen across the board, with increases registered across every single economic indicator”, and supply-chain exposure and workforce challenges among the greatest risers.

However, the report also found resilience among firms, who were showing evidence of factoring Brexit into their plans “in earnest”.

Paul Tombs, head of SME proposition at Zurich, said it is “extremely encouraging that businesses are not reporting any additional pressure compared with six months ago, or even this time last year”.