This week Axis for Business discusses a new study that shows that UK small business confidence is at a four year high, and what it could mean for your profit margins.
The Role of Perception in Business
As an independent energy and telecoms provider, who work to make real savings for SME’s across the UK, Axis for Business understands the role of perception in business.
They have a symbiotic relationship. If business leaders have confidence in a particular market, then people are persuaded to invest more in said market. That allows the sector to grow and widen profit margins, inspiring further confidence. That is why it is so importance that SME leaders are feeling so confident.
UK Small Businesses Some of the Most Confident in Europe
According to Startups.co.uk, the Sage Business Index has in fact shown that UK small businesses are some of the most confident in Europe. A new study by the index of 13,170 SME’s revealed that confidence has hit a four year high.
The survey revealed that 66.29% (two thirds) were “optimistic” about their company’s prospects, a 3.74% rise on last year. Meanwhile, 63% predicted that they would see a growth rate of 3.5% over the next year.
The UK Economy is Going from Strength of Strength
Sage UK and Ireland’s chief executive, Brendan Flattery commented on the survey’s findings. Flattery said: “With the UK economy continuing to go from strength to strength, businesses have been in a buoyant mood in the last 12 months.
“Nearly two thirds of businesses in the UK expect to see their business grow in the next year. That shows they’re feeling very self-assured, as the UK economy charges ahead of the rest of Europe.” This is backed up by the fact that these figures put business confidence in the UK ahead of competitors in countries such as Germany and France.
Increase Your SME’s Profit Margins