Recession over but concern still exists among UK businesses ...

An amazing 84 per cent of key decision makers in UK SMEs have expressed concern over the condition of the current economic climate. This comes after claims that business finance is becoming too difficult for SMEs to obtain. The latest issue of the quarterly SME Risk Index also revealed that 60 per cent of businesses are not confident of an improvement in the economy during the next 12 months, this in spite of the economy showing a return to growth. The numbers were revealed after a poll from YouGov questioned over 500 SME senior decision makers.

The anxiety felt over the economy is at its highest with decision makers in construction based SMEs; where an overwhelming 93 per cent expressed concern.

These pressures have resulted in 13 per cent saying they have thought about closing their business during the last quarter, an increase of 11 per cent over the previous quarter. There was also a rise to 25 per cent in the construction industry. 53 per cent believe that the present business climate is riskier than the same time last year, compared to just 11 per cent who feel that there is a reduced level of risk.

Such concerns over the financial climate could have quite an effect on employment as well as the day-to-day running of a business, with 63 per cent of SMEs concerned over current revenue and income stream generation today. A worrying 15 per cent have been forced to cut down on staff during the last quarter and 12 per cent have had to implement a reduction in wages.

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Source: http://www.psfinance.co.uk/recession-over-but-concern-still-exists-among-uk-businesses-1373.html

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