Small Business Confidence Hits 12-Year Low
Nationwide growth predictions drop to 24%, with London seeing a 12-month low.
Trust 55Craft 65Hype 50How this was reported ▾
Single named source with figures, but no independent corroboration.
How well corroborated and evidenced the reporting is. Higher is better.
Clear figures and quotes, but lacks local voices or next steps.
Context, balance and separation of fact from comment. Higher is better.
Headline overstates regional impact; body is measured.
How far presentation runs ahead of substance. Lower is better.
1 source assessed · methodology
Nationwide small business confidence has reached its lowest level in 12 years, with only 24% of enterprises anticipating growth. This figure matches the percentage of businesses expecting contraction or difficulty, a situation not seen since the initial COVID-19 lockdown in 2020. The survey by Novuna Business Finance, which polled 1,000 small businesses between July 5 and July 8, indicates a widespread economic challenge.
Regional Variations in Growth Forecasts
De Zerbi Won't Block Spence's Tottenham Exit
Manager Roberto De Zerbi stated he respects player wishes, even as he hopes Djed Spence will remain.
Every region in England, except for the North West, experienced a decline in growth forecasts. London's small business confidence recorded a 12-month low, falling to 36%. While this performance was described as slightly more robust than other areas, it represents a significant drop from 48% a year ago and 40% at the start of 2024. The North West was the sole region to see a quarter-on-quarter increase, with growth forecasts rising from 26% in the second quarter to 28% for the third quarter.
Sharp downturns were observed in the South East, where confidence fell from 21% to 16%, and the South West, which dropped from 22% to 15%. The construction, retail, and hospitality sectors reported particularly steep declines.
Factors Influencing Confidence
Ben Affleck Wins Million-Dollar Prize
Actor secures jackpot on game show, pledging funds to Eastern Congo Initiative.
Jo Morris, Head of Insight at Novuna Business Finance, suggested that geopolitical tensions, rising energy costs, and political uncertainty following recent local elections likely influenced business planning. Morris stated that uncertainty is a significant deterrent for small businesses. The overall confidence level for English small businesses previously peaked at 35% two years ago, during a period of optimism surrounding a pro-growth administration.
Barnet Press News Desk
This article was written at the Barnet Press news desk from the reporting of the outlets listed below it. Drafting is done by a language model under human editorial supervision — there is no reporter behind this byline, and we would rather say so than invent one.
How stories are produced and scoredWho runs Barnet PressCorrections
More Coverage in World
De Zerbi Won't Block Spence's Tottenham Exit
Ben Affleck Wins Million-Dollar Prize
