CBI And BDO Surveys Indicate Growing Optimism

Two more new reports have demonstrated that business confidence and optimism across the UK are continuing to grow.

In the CBI’s latest SME Trends Survey, it was revealed that sentiment about the general business situation rose at a record pace in the three months to October while optimism about export prospects rose for the third consecutive quarter.

The research also found that total new orders increased across the period for the first time since July 2012, with export orders rising at their fastest rate since April 2011.

Business advisory firm BDO has also recently published its latest Optimism Index, which suggested that business confidence continued to improve in October and the economic recovery is likely to gather pace at the start of next year.

The Index rose from 100.7 in September to 101.7 in October, while the firm also suggested that the increase seen in its Output Index was driven by new export orders.

Expert Opinion

Another week, another set of reports heralding the continued improvement being seen in the economy. <br/> <br/>"All of the evidence seen in recent weeks has suggested a brighter future for the economy and businesses of all sizes is not too far away – an indication which should encourage smaller firms to begin to assess where they stand now and plan ahead so they are ready for potential opportunities on the horizon. <br/> <br/>"Expansion and growth is obviously a key target, but companies cannot be complacent or naive regarding the challenges which come with such development. Having access to specialist legal advice is one step which will help to mitigate such issues and ensure SMEs are fully prepared for what the future holds." Steven Beahan - Partner