Confidence among UK small businesses has sharply declined, with the Small Business Index reporting its lowest value outside the Covid-19 pandemic. The Index dropped from -24.4 points in the third quarter to -64.5 in the fourth quarter, reflecting deep concerns over the economy, tax increases, and rising wages. The survey period coincided with concerns over an employment rights bill, which has increased anxiety among business owners. The hospitality and construction sectors showed significant distress, with many employers preparing for substantial layoffs due to anticipated financial pressures.
Confidence among UK small businesses has plummeted, reaching its lowest levels outside the pandemic, as they grapple with economic uncertainties, increasing tax burdens, and proposed employment laws.
The Small Business Index recorded a significant drop from -24.4 in Q3 to -64.5 in Q4, highlighting the acute anxiety small firms feel as 2025 approaches.
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