Businesses should remain assured despite survey showing fall in confidence, banker insists

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6th January 2015 14:24 - Business Support

A banker from the North West has encouraged firms in the area to strive for growth, despite a decrease in confidence.

However, despite the noted slump in confidence within businesses, Lloyd’s area director for SME banking within the North West, Martin Businesses should remain assured despite survey showing fall in confidence, banker insistsKendrick, has reiterated that the recovery of the UK is still “on track”.

Kendrick expanded by adding: “Companies should continue to think about their priorities and how they can best grow their businesses as we start the New Year.” 

A survey by the Federation of Small Businesses revealed a drop in business confidence. These findings were later backed-up by Lloyds bank.

According to the most recent Lloyd’s Business in Britain survey, the level of confidence in the North West has fallen within the last six months.

The findings were attributed to worries about global growth.

The report – which is issued twice a year – collected the opinions of some 1,500 businesses, within the UK, to observe the views on a variety of key performance and confidence measures.

The report monitors those businesses, which have a positive business outlook, against those who have a negative perspective.

In comparison with the last Business in Britain report, in July 2014, the index decreased 3 points to 42 per cent.

Businesses’ anticipations for total sales, orders and profits in the upcoming six months, have all fallen. However, they still are above average.

Some 50 per cent of North West businesses anticipate a rise in orders, during the first six months of 2015. On the other hand, 5 per cent are expecting a decline.

Of the respondents, 55 per cent of the businesses indicated that they expect a rise in sales in the upcoming 6 months and 8 per cent expect a fall. 

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