Voice of Small Business Index

Voice of Small Business Index: FSB

  • Small firms’ confidence levels tumbled 5.8 points to -4.5 in the third quarter – the fourth lowest score since the start of 2010
  • 21.6 per cent of respondents had applied for finance – down one percentage point on Q2. However, the number of refusals increased from 40.6 in Q2 to 42.4 in Q3. And almost two thirds of members think the availability of credit is poor
  • More than 60 per cent of firms also think that finance is unaffordable
  • Across the UK, 10 in 12 regions saw a decline in confidence – only London and the east Midlands saw an increase
  • Fifteen of the 18 sectors surveyed were more confident than in Q2. Business services sector and small manufacturers continue to perform well, but for those that rely on discretionary spending, confidence fell resulting in the overall negative reading
  • For a 10th consecutive quarter firms reported a fall in revenues
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