The Tenon Forum, the independent think tank, published its Quarterly Report today (8 May 2003). This independent research, carried out by NOP in March 2003, explores key issues facing entrepreneurs in the UK today and is the result of interviews with 1,000 senior executives of small- and medium-sized businesses with between five and 499 employees.
The study concludes that Britain’s three million SMEs are losing confidence in the economy, feel constrained by the daily tightrope walk of balancing cash flow, and are hit by the extra costs caused by the impact of war and the threat of terrorism, such as increased insurance premiums, and the related nervousness of customers. They have difficulty finding staff with the right skills and feel strangled by the over-regulation of employing them. Just 2% feel very positive about the impact of the wider UK business environment on their prospects for the next 12 months, with 46% feeling negative, up from 42% last quarter.
