More than half of SMEs confident about the global economy

Research suggests that more than half (57 per cent) of UK small and medium-sized enterprises (SMEs) are feeling confident about the global economy, despite the political uncertainties and other challenges businesses today face.
In fact, the collaborative report, which was published by American Express and Oxford Economics in recent weeks, has revealed that business confidence levels in the UK are approximately ten per cent higher than the global average, which sits at just 47 per cent in comparison.
Going forward, British businesses set out their growth plans for the year ahead in the report.
41 per cent of firms said that they were eyeing up strong revenue growth over the coming months, which they hope to achieve through innovation, agility and building and maintaining strong customer relationships.
A further 47 per cent added that they would achieve this growth by prioritising increasing operational efficiency within their organisation.
The research comes at a time when separate studies appear to suggest that overall confidence among British businesses is higher now than it was towards the end of 2017.
In recent days, a separate report published by the Institute of Chartered Accountants in England and Wales (ICAEW) has revealed that business confidence rose notably in January, from -3.4 to -1.0.
The ICAEW said that the figures suggested “modest GDP growth” but that business confidence still remained in “negative territory.”

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