According to a recent report, small business confidence has increased over the last three months, thanks largely to the increased profitability of the export market, rather than domestic consumer demand.
The survey, which questioned over two thousand small business owners, was conducted by Lloyd’s enterprise. It found that company owners are more positive than they have been since the recession began as a consequence of the fact that export industry currently offers them a number of profitable opportunities.
However, over forty per cent said that they are still concerned about UK enterprise and declining consumer demand, which undermines the statement David Cameron made in June that he would make the UK the best place to do business in the world.
Oliver Dacombe, commercial banking manager at Lloyds comments; “The fact that confidence among UK business owners is on the increase is undoubtedly positive. However, as the report reveals, many company formation owners remain concerned about the domestic market and its future.”