A quarter of businesses shift their business plans in wake of Labour election win
A recent survey of SME businesses in the South East of England has shown confidence edging higher in the region, with the confidence level at 69 with 62% of respondents forecasting an increase in profits in the next year. The biannual business report of SMEs in The South East is run by Accounting, Tax and Corporate Finance firm Wilson Partners, canvassing a cross section of their clients and key contacts across the region, it has become a useful business barometer for SMEs since the beginning of the pandemic. The latest survey was undertaken in July 2024.
The confidence barometer which gauges confidence levels on a scale of 0 to 100 came in at 69 (a point up from January 2024) albeit with the sentiment towards a Labour Government far less positive at just 51 and 26% of respondents telling us their plans had changed as a result.
“It feels as though we’re in a period of more sustained stability, albeit the economy is still highly sensitive and it’s difficult to gauge. Whilst we anticipate the contents of the new government’s first budget on 30th October. Nonetheless, we’re hearing relatively positive things from many of our clients, and I would expect the 0.25% BoE rate cut to have a positive impact too, however our corporate recovery arm is seeing an increased level of activity, as the post-pandemic fallout continues to take its toll on SMEs.”
Wilson Partners is a multi-award-winning Accounting, Tax, Business Advice and Corporate Finance firm whose clients consist of SMEs, private individuals and investment houses across London and the South East. With offices in Maidenhead, Cambridge, Woking and Sevenoaks they are one of the fastest growing accounting firms in the region and were recently recognised as an ‘outstanding’ place to work by The Best Companies.
Access the full business report here.
