Small Business Confidence Falters

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The third Teneric Business Plans (http://www.teneric.co.uk) Small Business Confidence Survey shows a marked reduction in confidence for the UK economy from small business entrepreneurs.

The third Teneric Business Plans (http://www.teneric.co.uk) Small Business Confidence Survey shows a marked reduction in confidence for the UK economy from small business entrepreneurs.

The September 2005 survey shows that 74% of those questioned say they are optimistic for UK economic growth in the next 12 months (down from 83% in February 2005) although 78% believe their business will be better off this time next year (up from 76%). 26% say they are not optimist at all for the UK economy (up from 17% in February 2005)

Peter Hale Owner of Teneric Business Plans says, "These results suggest that small business owners still have confidence in their own business skills but not the economy as a whole. They believe their businesses will be better off in a years time but their confidence in the UK economy shows a marked reduction from just seven months ago."

Peter continues, "In February, just 5% of small business owners said the UK economy was holding them back from growth -- now it is 14%. Certainly the recent turmoil in oil prices, stagnant high street growth and higher personal debt will have all contributed to the reduction in confidence for the economy."

However, there is positive news from the SME sector in that over 80% of firms follow a business plan and the vast majority have updated theirs within the last year. "Having a business plan has been proven time and again to generate more profits for companies than those without a plan so this is very encouraging and backs up SMEs suggesting that their businesses will continue to grow despite their reservations for the economy as a whole," continues Hale.

Teneric business plans Website is at http://www.teneric.co.uk which has a comprehensive range of services and free advice to plan, start and grow a small business including a popular online advice forum. The online forum is located at http://www.teneric.co.uk/forums/

The survey was conducted in the second week of September 2005 with 708 participants.

The results of this survey can be found at:

http://www.teneric.co.uk/small-business-survey-sep05.html

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