Record drop in small business confidence ahead of referendum

Survey findings from research conducted by the Federation of Small Businesses (FSB) before the EU referendum vote, showed that small business confidence is at a four-year low.

According to the survey, only 12.2 per cent of business owners and entrepreneurs interviewed were planning new capital investment over the next year (down from 31.9 per cent a year ago).

In the wake of the referendum results, the national chairman of the FSB, Mike Cherry, has urged policy makers to make changes which will help to improve the ease and cost of doing business in the UK. Commenting on the introduction of the National Living Wage in April, he said government must take "extra care to ensure small businesses can sustainably support higher wages at this challenging time."

Throughout each business lifestage, from start up to exit and beyond, it is essential that business owners partner with the right advisers who can guide them through the various challenges, whilst always seeking opportunities to reduce their tax bill, enhance wealth accumulation and succession planning, and ultimately maximise profitability.

At Beavis Morgan, our startup business specialists are on hand to assist small businesses achieve success. We work at understanding our clients and their individual requirements, and we pride ourselves on finding the right solutions and providing quality, tailored advice, helping you achieve business performance excellence … and protect and increase your net worth.

For more information, contact Steve Govey or your usual Beavis Morgan Partner.