Thursday 13th March, 2014

The latest Federation of Small Businesses' (FSB) Small Business Index shows an increasing number of businesses want to create jobs in the next three months, it also highlighted an improvement in the number of businesses accessing finance.

The survey of almost 3,000 businesses shows 15 per cent are looking to take on more people in the coming quarter and 11 per cent have increased staff in the previous three months.

The report shows a marked improvement in the number of businesses accessing finance, with more firms approved for applications. While the environment remains challenging the FSB says; "this is a welcome sign that credit conditions are easing for small firms".  However the survey reveals that the perception persists among businesses that credit availability and affordability is poor, meaning more needs to be done to restore confidence in the banks.

With just days to go before the Chancellor delivers his Budget the FSB has urged him to build on this confidence.  His announcement should focus on enterprise, completing reforms in key markets notably banking and energy and putting in place a supportive tax environment that encourages small firms to invest, create jobs and grow.