Small business confidence rises to 'highest level in over a year', FSB reveals

Confidence amongst small businesses in the UK has risen to its highest level in more than a year, according to data published by the Federation of Small Businesses.

13 Apr 2017

Confidence amongst small businesses in the UK has risen to its highest level in more than a year, according to data published by the Federation of Small Businesses (FSB).

The FSB’s Small Business Index (SBI) for the first quarter of 2017 stands at 20.0 – the highest figure since the fourth quarter of 2015, and a significant improvement on the figure of -2.9, which was recorded after the EU referendum. Confidence has risen despite small firms facing ‘spiralling business costs’, the FSB stated.

The rise in confidence has, in part, been caused by an increase in international trade, according to the SBI. A net balance of 15.6% of small businesses reported a rise in export activity, with an additional 30.5% expecting international sales to increase over the next quarter.

Mike Cherry, National Chairman of the FSB, commented: ‘It’s hugely encouraging to see our small businesses trading more overseas, driving an exports-led recovery.

‘We know small firms that export have higher turnovers than those who rely on the domestic market, so it’s crucial that the government maximises cross-border trade opportunities for small firms.

‘That includes negotiating an ambitious free trade agreement with the EU as part of the Brexit process.’

Try a site search

About us

Ling Phipp was founded in 1974 and nowadays has two partners, six managers plus trainees and support staff.

We serve clients in the East Midlands and all over the UK. Our out-of-town location, with easy parking, close to the M1 junction 25 (Nottingham/Derby - A52), is very convenient.

Company details

0115 949 6838

Ling Phipp, Cliffe Hill House, 22-26 Nottingham Road, Stapleford, Nottingham NG9 8AA


© 2018 Ling Phipp. All rights reserved. We use cookies on this website, you can find more information about cookies here.

Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk, under reference number 6424855. This is the firm number provided by the Institute of Chartered Accountants in England and Wales.