Survey finds UK small business confidence on the wane

AP News
|
Posted: Sep 19, 2017 7:02 PM

LONDON (AP) — A lobby group for small businesses in Britain is warning that rising prices and a stuttering domestic economy are driving confidence down and prompting an increase in the number of entrepreneurs considering selling their firms.

In a quarterly survey of its members Wednesday, the Federation of Small Businesses found that optimism among its members has tumbled to its lowest since the immediate aftermath of last year's vote to leave the European Union.

Mike Cherry, the organization's national chairman, said rising inflation and a weakening national economy are the "twin drivers of plummeting confidence among small firms and consumers alike."

One bright spot, he said, is that exporters remain "bullish." Exports have been helped by the pound's post-Brexit fall.

According to the organization, 22 percent of small businesses export.