The current economic climate of the UK is extremely conducive to the creation and growth of new businesses; that's according to the first ever Entrepreneurs Optimism Index report by Major Law Firm Bircham Dyson Bell.
Their research, which included a survey of 279 entrepreneurs, was intended to provide a quantifiable indication of the overall state of enterprise confidence amongst business leaders in the UK at the moment. With no previous findings to be use as a benchmark, it is impossible to say if their conclusions represent a positive change, on the face of it, their reportings would certainly seem to indicate a fairly decent short term outlook!
For example they found that some 56% of companies have experienced an increase in revenue over the past 3 months and that 64% of entrepreneurs have managed to raise additional funding during this same timeframe. Other figures released suggest that this boost within the financial aspects of enterprise is increasing confidence in other areas too, with 92% predicting that they will be profitable within the next two months, over 50% intending to increase headcount over the coming months, and 74% saying that they would be confident in starting a new business within the current economic environment.
Hollie Gallagher, head of the entrepreneurs team at Bircham Dyson Bell, said:
“Our inaugural Entrepreneurs Optimism Index shows an incredibly positive outlook amongst the business community, which is now experiencing growing profitability, increasing customer demand and higher employment.
“Interestingly, from the research and speaking to our clients, we have seen that business leaders are not confining themselves to starting and running a single business – they have continued to innovate and explore, treating their entrepreneurialism as providing a job for life.”
Will the economic blue skies continue to brighten as we head towards winter? Or will Autumns tempestuous nature reflect in all things fiscal?
Perhaps it’s a tad early to be putting the brollies away just yet!