Partner Article

FSB reveals ongoing fragility

BUSINESS confidence still remains fragile for small businesses in the North East, according to a new survey released by the Federation of Small Businesses (FSB).

In a survey of over 1,200 members of the organisation, only a net four per cent of respondents believe that business prospects will improve in the third quarter of the year, down from 16% in March.

The survey also suggests that almost 67 per cent of small firms are operating below capacity, with those in the manufacturing sector faring much better than service sector firms.

In reaction to the new findings, Simon Hanson, North East policy manager at the FSB has said the government must get behind small businesses if they are to grow and expand.

He said: “Our survey shows that a small percentage of North East firms surveyed feel more confident about the future. Whilst this is welcomed more could be done to boost confidence including widening the NI holiday to existing as well as start-up firms.

“Stimulating private sector job creation, especially in small firms, will be vital to rebalancing the economy and helping the North East to drive the recovery of the economy.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .