According to a new poll small businesses are more concerned about the fragile state of the UK economy than anything else. The research, conducted by the Small Business Research Trust and Natwest bank shows that red tape is no longer small firms' top gripe, although few firms said that that problem had eased.
Just over one in five small businesses said they worried most about the economy, compared with only 13% six months before. Previously it had been mainly micro-firms - with fewer than 10 staff - who were troubled.
Jeremy Peat, chief economist at NatWest, said, "Confidence was clearly low in Q2. Unsurprising, given that a large part of the survey was carried out in the wake of the slowest GDP growth figures for a decade and during the war in Iraq.
"More recently, business and consumer confidence has improved. Firms are seeing both increased orders and - thanks to sterling depreciation - somewhat less pressure to cut prices and squeeze margins in order to remain competitive."
For the full story visit the British Chambers of Commerce site at http://www.chamberonline.co.uk/cmn/ml.jsp?id=000005570903
Read related items on:
Small Business Research Trust