Region’s entrepreneurs ‘positive despite uncertainty’, reveals new report

North East business owners “remain largely positive about their prospects” despite governmental uncertainty, a new report has revealed.

The latest Entrepreneurs’ Forum Member Quarterly Pulse Survey shows 86 per cent of respondents feel buoyant about the year ahead.

The number is down on the 88 per cent recorded earlier in the year, though a third of members still expect turnover to increase by more than 20 per cent this year.

However, the report also raised concerns, with three per cent of the 104 business owners questioned saying they are pessimistic – compared to none in May – and 50 per cent expressing a feeling of neutrality towards economic prospects for the UK’s economy.

The latter came from uncertainty around the new Government and its October budget, with many entrepreneurs awaiting clarity on potential policy announcements around areas such as tax and workers’ rights.

Issues were also raised around sales and cashflow, with a quarter of respondents citing the latter as a significant challenge.

Elaine Stroud, Entrepreneurs’ Forum chief executive, said: “While there is a slight tapering in optimism, driven by the uncertainty of next month’s budget, our members remain largely positive about their business prospects.

“Anticipated growth in turnover and the focus on domestic market expansion are promising indicators for the region and our entrepreneurs.”

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