UK business confidence has risen, says Sage

Tuesday 22 October 2013

City of London

Business confidence has reached a three-year high in the UK, according to new Sage research.

The firm's Business Index has recorded the highest scores seen since it began in February 2011, offering further hopes of a sustainable economic recovery.

UK companies recorded scores of 62.55 out of 100 for business confidence, up from 58.46 in 2012. This was the highest score seen across any European nation.

Similarly, confidence in the UK economy increased 8.51 points in the last 12 months to 53.95, while confidence in the global economy rose by 7.39 points to 51.10.

Brendan Flattery, chief executive for UK & Ireland at Sage, said that after years of financial hardship, business confidence is rising.

He noted that companies around the world are more optimistic about their own prospects.

Mr Flattery claimed that more should be done to encourage investment in small businesses the world over.

"I believe that the development and encouragement of more diversified funding sources, such as angel investment, venture capital, peer-to-peer and crowd-funding, should be a priority," he stated.

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Posted by Steve Williams