The UK’s small business sector is set to enter 2011 in a buoyant and confident mood.
A survey of 1,120 small businesses conducted by HR service PeoplePerHour.com finds nearly two thirds (64 per cent) are optimistic about the UK’s economic future.
Of the minority of businesses concerned about the state of the economy, biggest worries are the over-reliance on the financial services sector (28.7 per cent) and increased competition from emerging markets (22.5 per cent).
Other concerns are the impact higher taxes could have on a ‘brain drain’ from the UK (22 per cent) and how the rate of VAT will impact on trade.
Xenios Thrasyvoulou, CEO and founder of PeoplePerHour.com, says: ‘Despite the gloomy economic forecasts, small businesses are sailing into the New Year with a healthy degree of optimism.’
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