What is the SME Confidence Tracker?

The SME Confidence Tracker surveys 1,000 of the UK’s small and medium sized businesses on a quarterly basis. The Tracker charts the confidence of owners and senior decision-makers of businesses in manufacturing, construction, wholesale, transport and services sectors. Field work for Q2 took place throughout June 2018 and respondent businesses had average annual turnover of £1.8m.

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Key Findings

  • SME confidence dropped by 3 basis points from 64.7 in Q1 to 61.3 in Q2 2018
  • Over two-fifths (42%) of SMEs expect sales to increase in Q3 2018, down from 50 per cent in Q2 2018
  • SMEs plan to invest an average of £85,797 in Q3
  • Three-fifths of SMEs (62%) expect to invest in their businesses in Q3, an decrease of 10% from Q2.
  • Awareness of the Northern Powerhouse has increased to 70 per cent of SMEs from 57 per cent in Q2 2017
  • Awareness of the Midlands Engine has increased to 46 per cent of SMEs from 34 per cent in Q2 2017

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