SMEs remain ambitious despite wavering confidence
The report found the proportion of SMEs expressing concerns about the global economy remains constant at 62% against 64% in 2017 however the number of SMEs who think the global economy is performing well has halved to just 15%.
SME business confidence in the UK economy has fallen by 9% to 34% and 29% saying it has worsened since 2017. Creating issues and challenges ahead, 39% believe it will deteriorate in the next 12 months.
Despite this, almost half of UK SMEs (39%) expect to see business growth over the next 12 months. Of those, 71% believe growth will come from existing customers while 10% believe it will come from exporting.
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