Confidence about the economic outlook for small- and medium-sized business (SMEs) is returning, a new survey commissioned by mobile phone operator O2 has revealed.
In the run up to Christmas and this week's Budget just over 50% of small firms said that they were more confident about the climate for business than they were earlier this year.
But almost one in five admitted to being less confident about the future, with a further 27% saying they saw little change ahead.
Over half of small firms expected sales to grow next year and just over 40% said they expected them to remain the same. One in twenty firms, however, said they expected their sales to decline next year. The main challenges facing SMEs, according to the survey, were: growing sales; maintaining cash flow; time management and rising external costs, such as insurance.
