Small business confidence in Wales has fallen at its fastest pace in more than seven years.
The Federation of Small Businesses’ latest Small Business Index Report for the final quarter of 2017 shows that small business confidence fell sharply.
Business confidence in Wales decreased from 22.1 points to 2.1. However, whilst the decline was in line with the UK average, Welsh business confidence still remains above the UK figure of -2.5.
Although both Wales and UK overall have seen an increase in business confidence at the beginning of 2017, this has now fallen to its lowest level in two years.
Welsh businesses are also more reserved about business growth in this latest survey. Only slightly more small businesses in Wales reported that they increased employment compared to those who said that they had to let people go. However, two-thirds of firms said that their headcount remained the same.
Janet Jones, FSB Wales Policy Chair, said: “Business confidence in Wales is generally resilient and we hope to see it bounce back very quickly.”
Time for Welsh business to grasp the challenge and to look forward and achieve success.
Many Welsh businesses ( both small and large )have been highlighted by the Caerphilly Observer over the past year who have not only been successful,but have lead the way !