If 2015 is anything to go by, small businesses should be experiencing a pretty miserable 2016 right now. Thankfully, that couldn’t be further from the truth. After a rocky end to 2015, our small businesses are getting back to basics; investing heavily in staff, equipment and IT resources.
Despite the challenges that lay ahead, like increased competition, cost rises and heavier regulations, SMEs are showing a determination to roll up their sleeves and make real progress.
From the survey of over 1000 SME businesses, the most confident areas of the UK are Wales, South East (excluding London) and the South West. The least confident areas include West Midlands, East Anglia, Yorkshire and Humberside.
With growth set to increase by 12% in Q1 alone, and with 48% of businesses expecting sales to rocket, confidence is high. 2016 looks like a seriously strong year for our small businesses.
Infographic Source: www.bibbyfinancialservices.com