Confidence returning to smaller businesses

Business confidence among small and medium-sized enterprises (SMES) is improving, according to a new snapshot, with just under half expecting sales to increase over the next three months.

Invoice finance provider Bibby Financial Services said 48 per cent of those polled expect turnover to rise in the nearterm – the highest level since last June’s EU referendum.

Today’s survey – based on the findings of about 1,000 SME owners across the UK – showed strong confidence in most UK regions. However, SMES in London registered the lowest confidence levels with just 38 per cent expecting sales to grow.

Edward Winterton, UK chief executive at Bibby, said: “Nine months have passed since the UK’S historic referendum result, which sent SME confidence plummeting.

“However, since then, there has been a significant shift in mood on the run up to the formal triggering of Article 50. Confidence is returning.”