Q3 Tracker

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. Fieldwork for Q3 took place throughout September 2018 and respondent businesses had an average annual turnover of £1.8m.

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Q3 Tracker

Key Findings

  • The SME Confidence Index decreased for the second consecutive quarter to 60.8 in Q3 2018, down from 61.3 in Q2 2018

  • Over two-fifths (42%) of SMEs expect sales to increase in Q4 2018, matching their expectations for Q3 2018
  • third of SMEs (33%) with EU suppliers would not be able to operate without imports from the Bloc

  • Three-fifths (61%) of SMEs with EU suppliers said that they would see a decline in profits without imports from the bloc

  •  SMEs plan to invest £173,644 on average in Q4 2018

  • Almost a third (30%) said profits would be reduced if the Bank of England Base Rate increased to 1% 

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