The FSB reports that confidence among small businesses has climbed in the first three months of 2024. Their index returned to positive territory for the first time in two years as business confidence increased by 20 points between January and March. The increase took the balance of firms feeling confident to 5.5 points. The most confident sector was manufacturing, which rated 19.1 points. Having said this, when questioned about challenges, 83.7% said that increases in operating costs were their main concern. This particularly related to rising utility and labour costs. The Policy Chair at the FSB, said that “The rebound in confidence levels in most sectors is a good indicator that the shallow recession recorded at the end of 2023 is firmly in the past. Many SMEs are now keen to look ahead to expansion and better trading conditions.”
iBOSS Comment:
Generally encouraging news, particularly as manufacturing is leading the way. If you need some help, guidance or finance in growing your business then call us at iBOSS for a free consultation. Simply call 07876 503830 or e-mail info@theiboss.co.uk
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