Sunday 23 July 2017

Confidence among small businesses remains below pre-Brexit levels

Linda Barry, acting director of the SFA
Linda Barry, acting director of the SFA

Ellie Donnelly

Confidence among small businesses is rising, however it continues to remain below pre-Brexit levels, according to the Small Firms Association (SFA).

Speaking ahead of the SFA annual conference being held today, Linda Barry, acting director of the SFA said that confidence among small businesses had increased over the past six months, with 61pc of SFA members believing that the business environment is improving.

A further 51pc of businesses said that their own businesses are growing, according to the SFA.

“Almost three-quarters [of members] intend to invest in their business in the coming year, with brand development, staffing and IT as the main investment priorities.

It is encouraging to see that 60pc of small businesses intend to create additional jobs over the coming year,” Barry said.

The SFA also called on the Government to prioritise ending discrimination against the self-employed in the tax system by increasing the self-employed earned income tax credit to the same level as the PAYE tax credit.

The group, which has over 8,000 member companies, also recommended that the Government introducing a workable employee share option scheme to help small firms attract talent, and increase their investment in infrastructure.

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