Abbey: One third of SMEs concerned about prospects

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Abbey: One third of SMEs concerned about prospects

Mon 21st Jul 2008

A third of small and medium enterprises (SMEs) worry about their prospects for the coming year, research by Abbey has found.

New research by Abbey Business Banking found that 39 per cent of small business owners rate their economic prospects for the next 12 months as "somewhat concerning" or "poor".

The study found that 12 per cent of SMEs have seen an increase in clients failing to pay bills, while 29 per cent believe clients are increasingly delaying payments.

But 14 per cent believe economic uncertainty provides potential new opportunities for their business, for example in people searching online for the best deals.

Many people in property maintenance said there is also an increase in those looking to improve their homes rather than move.

Business confidence for the next six months has hit its lowest level on record, according to a Lloyds TSB study.

The latest Business in Britain survey for July found that firms expecting better profits and sales is now at -8 per cent, compared with 18 per cent in January, the Financial Times reported.

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