Small firms confident about future

Small
firms are increasing their sales, employing more people and are confident about
the future according to the largest survey of small businesses ever undertaken
in the UK.

The
study by the Federation of Small Businesses (FSB), showed business owners were
unwilling to lose the UK’s opt-out from the Working Time Directive’s 48-hour
week limit, but were prepared to consider moves to a more flexible retirement
age.

The
study, Lifting the Barriers to Growth in UK Small Businesses, received more
than 18,000 responses and shows a healthy and confident small business sector
benefiting from a growing economy.

More
than half in the sector are aiming for moderate or rapid growth over the next
two years compared to just 5 per cent who want to down-size or close their
doors.

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Around
57 per cent reported increases in sales volume in the previous financial year
and nearly half reported an increase in profitability.

By Michael Millar