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SME confidence takes a dip

Simon Quicke

Confidence in the economy is a precious commodity which has taking a beating since the election and the aftermath with the focus on cuts and austerity.

The consequences are that those running small businesses are less optimistic about the outlook and their confidence has dipped since the election, according to a survey carried by insurance firm Insurantz.com.

When small business owners, which forms the heartland of the channel's market, were quizzed about their thoughts about the future 56% ticked the box that said they saw no light at the end of the tunnel.

Before the election 62% of the same audience had been hopeful of an improvement to economic conditions but that has now dropped to just 44%.

"SMEs have been hit hard by the recession and the reality of Britain's debt, laid bare in the weeks since the election, has clearly had an impact," said James Pickering, managing director for Insurantz.com.

He also pointed to continuing problems with SMEs getting access to credit as one of the ongoing problems that hadn't particularly eased since the coalition government took office.

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