Study Reveals Increasing Confidence Among Growing Businesses

New research has suggested that optimism is continuing to grow among small and medium-sized enterprises (SMEs), providing further evidence that the confidence of such firms is on the rise.

The Business Factors Index report from Bibby Financial Services , due for release later this month, has reportedly revealed SME performance is matching wider industry performance in a range of sectors such as manufacturing and construction.

According to reports, manufacturing firms have seen a 5.1 point increase in the second quarter, while construction firms saw a rise of 5.7 points.

David Postings, chief executive of Bibby Financial Services UK, said the third quarter was also a “period of good performance across the board with increasing optimism among SMEs”.

The comments have come after research by Deloitte reported by BusinessDesk revealed optimism among entrepreneurs in the Midlands is at its highest level for six years.

Expert Opinion

Another week and another new report reveals confidence is on the rise among SMEs and entrepreneurs, with many now recognising they are in a strong position to take advantage of the growing opportunities which are emerging as the economy recovers. <br/> <br/>“SMEs have key role to play in economic growth so these results are of course very welcome, although we would urge such firms to ensure they have provisions in place which ensure they are ready for growth and expansion. <br/> <br/>“One vital factor in this is ensuring that specialist legal advisors are on hand to provide key information on regulatory compliance, employment policy issues and other aspects of the law.” Steven Beahan - Partner