The Federation of Small Business (FSB) has released a report that suggests small business confidence is on the increase. But is this an accurate picture of the state of the UK and it’s industry?
The FSB’s report has indicated that UK small business confidence has seen a significant increase since the end of 2010. Their “Voice of Small Business” report showed a measurement of +6.7 for the first quarter in 2011, showing the first increase for over a year.
Unfortunately it’s not good news for everyone, a large number of brits have felt the cold hand of redundancy and hiring remains weak in spite of the apparent rise in business confidence.
FSB Chairman, John Walker, commented:
“The fact that more small businesses had to lose staff than they anticipated is a worry, especially as female and youth unemployment both edge towards a million.”
Mr Walker added that the Government has to offer help to private sector small businesses if they expect them to “pick up the slack that its austerity measures create.”
The FSB have also suggested that the end of 2010 was a very “downbeat” period as a number of small businesses lost confidence due to the impending rise in VAT, the negative dip in the economy and then the increase in fuel costs well into 2011.
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