The FSB Small Business Index has reached its highest level since the fourth quarter of 2015, improving for the second quarter running and suggesting a confidence bounce in
the period before the intention to leave the EU was formalised.
The index score stood at +20 in the first quarter of 2017, building on a score of +8.5 in the final quarter of 2016, and marking an improvement on the dip to -2.9 in the aftermath of the Brexit vote. In addition, export intentions are at a record high, with 30.5 per cent of businesses expecting these to increase in the next quarter.
However, the net balance of small businesses noting higher revenues has more than halved from the previous quarter, and 64.5 per cent of businesses report an increase in operating costs.