SMEs report a cautious increase in confidence

Posted: Monday, 1 June 2009 @ 18:32

Another sign that the recession might have bottomed out is a recent survey by the Forum of Private Business.

Their survey reports that confidence in the SME sector has shown a slight improvement: 26% of respondents said the viability of their business had improved in over the past month, double those who thought it had got worse.

Dissatisfaction with banks was still reported as a problem, with 18% saying that the support offered by their bank had deteriorated in the last month compared with 12% who thought it had improved. However, 8% reported that the provision of overdraft facilities by their bank had improved compared with 3% who thought it had worsened.

According to the survey, the average overdraft rate offered by banks to SMEs in May was 6.6% compared to 6.8% in April.

As for market conditions generally, the survey reports that 21% thought they were improving whereas 29% said they continue to decline.

The survey also showed that more businesses (8%) thought that lack of finance was a problem than was the gaining and retaining of new business (6%).

Gary Cousins,
Business Solicitor

Blog by Gary Cousins
Gary has been providing legal advice to shareholders, directors and business owners for over 25 years. Specialising in dispute resolution Gary is based in Birmingham with clients throughout the UK and overseas. View profile
Call Gary on +44 (0)121 778 3212 or by email
This blog is not intended to constitute legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it. You should always seek legal advice to confirm whether or how any information in this article applies to your particular situation. We offer a free telephone consultation to discuss your particular circumstances.

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