Ideal Business Consultants

Confidence among UK small businesses is at its highest level since October 2009, new research shows.

According to research carried out by workplace provider Regus, the Business Confidence Index (BCI) is at an average of 108 points, which is relatively encouraging considering the economic conditions.

The latest Business Tracker report, which published findings from over 4,000 UK businesses, found that small business confidence measured 103 in the index. Approximately 26% of small businesses said they experienced an increase in profits last year.

Despite high levels of optimism, small businesses will remain cautious in their projections for 2011. Only 27% believe the economy will advance in the latter half of the year. 60% felt that momentum would pick up in the first half of 2012 and 69% do not expect anything for at least 12 months.

Celia Donne, Regus’ regional director said:

“The results are good news for the UK economy.”

“Although the Business Tracker highlights the extent to which small business is bearing the brunt of the weak economy, it is encouraging that their profit expectations are buoyant.”

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