A new survey has shown that UK small business confidence is among the highest in Europe; this week Axis Telecoms illustrates why this could be beneficial for your own SME’s profit margins.
The Bottom Line-Lifting Power of Business Confidence
Through providing a quality energy and telecoms service as an independent provider, Axis Telecoms has developed an understanding of the bottom line-lifting power of heightened business confidence.
If business leaders are feeling more confident about their company’s prospects, then there is a reason for it. That reason attracts investment, which allows SME’s to make more profit, thus inspiring more confidence. That is why we felt it necessary to share just how high UK SME confidence is right now.
The Sage Business Index
A new survey commissioned by The Sage Business Index, which chronicled the opinions of 13,170 SME leaders, showed that confidence is higher than that in competing EU markets such as France and Germany. Confidence in fact climbed to a four year high, with 66.29% of SME leaders feeling confident about their business’ prospects.
This may have been a 3.74% rise on 2013’s figure, but the survey also showed that business leaders in the UK are still not satisfied with the level of export support they receive from the government. Only 8% agreed that the level of support was satisfactory. 28% meanwhile, believed the government could offer greater financial incentives to sell abroad.
The Golden Age of the Entrepreneur
This was an issue Brendan Flattery, Sage UK and Ireland’s chief executive touched on when talking about the results. According to Startups.co.uk, Flattery commented that “Nearly two thirds of businesses in the UK expect to see their business grow in the next year. That shows they’re feeling very self-assured, as the UK economy charges ahead of the rest of Europe.
“It is fair to say we are in a golden age for entrepreneurs. The research suggests most businesses in the UK, regardless of size, have growth firmly on their agenda. But, as only 8% of UK firms say they receive the support they need to help grow their exports, it’s vitally important that support is there for the UK economy to continue to grow.”
Helping SME’s Remain Profitable in the Long Term
Flattery’s words struck a chord with Axis Telecoms. Yes, we are in the golden age of the entrepreneur, and the extra confidence should be fantastic for your bottom line. But these figures also show that the government needs to make sure it keeps helping small businesses to ensure they remain profitable in the long term.