Latest data indicates a rise in business confidence

Latest data indicates a rise in business confidence

The results of three recently released surveys indicate a fresh surge of optimism among UK businesses. The positive results could be an indication that the UK economy is on the road to recovery following a bleak period for businesses. BDO LLP have released the results of their latest Business Trends report, which shows that optimism for UK businesses is at its highest level in two years.

The Optimism Index, also released by BDO LLP, has risen above the 95.0 mark, which is an indicator of growth. It reached 98.0 in February, the best it has been during the last nine months. This increase is the largest since the figures from December 2009. The rising confidence of businesses was further reinforced by a third survey conducted by the Federation of Small Businesses, who said that the outlook has improved despite the difficulties facing UK small businesses, such as trouble accessing business finance.

The manufacturing and services sector have both shown signs of improvement, with an increase in optimism in the services sector to 98.3 during February in comparison with January’s figure of 94.7. The Manufacturing Optimism Index increased to 96.9 during February, in comparison to 91.3 in January. Despite the low figures from December 2011, business confidence is now on the increase, with a number of businesses aiming for growth in the next year.

Planning a growth and financial strategy with the help of a small business accountant will provide a solid foundation for growth, helping the UK economy towards recovery.