Positive news for UK’s small businesses
A recent report produced by the CBI, the SME Trends Survey, suggests that prospects for the UK’s small and medium businesses have improved.
According to the North-West’s industry news source, TheBusinessDesk, the report shows that there has been a slowdown in the rate of decline of orders, and many are predicting a return to growth in Q3.
51% of the 480 SMEs surveyed said that the volume of new orders fell in Q2, while 17% reported a rise. This may not appear much of an improvement on the surface, but in comparison with the previous report, this difference of -34% is better than that seen in Q1 – which was reportedly the worst result since the survey began back in 1988.
A slower rate of decline was also witnessed in the volume of manufacturing output, with a difference of -28% in Q2 compared with -48% in Q1.
In an interview with TheBusinessDesk, Russel Griggs, chairman of the CBI’s SME Council, said:
“Business conditions remain difficult for the UK’s small and medium-sized manufacturers. Orders and output are still falling, but things aren’t quite as gloomy as they were three months ago.”
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