"Almost half of UK SMEs are optimistic about the year ahead, but cost pressures remain the biggest obstacle to growth, according to new research from Simply Asset Finance released ahead of the Autumn Budget. The study shows SME confidence is climbing: 49% of decision makers feel positive about the next 12 months, up from 43% a year ago. Notably, 19% say they are "really excited" about their growth prospects - more than double the 8% recorded in 2024."
"High energy costs remain the single biggest issue for SMEs, with 40% calling on the Chancellor for targeted support - rising sharply to 54% among medium-sized firms. The UK remains one of the most expensive advanced economies for business energy costs, leaving companies warning that they are operating at a structural disadvantage. A further 34% of SMEs want enhanced tax incentives to stimulate investment and innovation, while calls for corporation tax cuts have almost doubled year-on-year to 36%, up from 19% in 2024."
49% of UK SME decision makers feel positive about the next 12 months, up from 43% a year earlier. Nineteen percent say they are "really excited" about growth prospects, more than double 2024's 8%. Cost pressures remain the largest obstacle, with high energy costs cited by 40% overall and 54% of medium-sized firms calling for targeted Chancellor support. Thirty-four percent want enhanced tax incentives and calls for corporation tax cuts have risen to 36% from 19%. Twenty-six percent seek better access to government-backed loans. Confidence in a pro-business Autumn Budget sits at 36%, while 68% expect the Budget to significantly affect plans.
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