The Federation of Small Businesses (FSB) has released data indicating that small business confidence has slightly improved but remains very negative at -40.7 points for Q1 2025. Rising costs are a significant concern, with 85% of respondents reporting increases, primarily driven by utilities, labor costs, and taxes. The survey also highlights employment challenges, as only 8% of businesses increased staff while many reduced their workforce. Furthermore, only half of credit applications were approved, with many funds allocated to managing cash flow. The FSB is urging the government to support small businesses through targeted policy changes.
The Federation of Small Businesses (FSB) reports that small business confidence has improved slightly to -40.7 points, up from -64.5 in late 2024, indicating ongoing financial struggles.
Key financial pressures are evident, as 85% of small firms report rising costs, with major contributors being utilities, labor, and taxes, creating barriers to growth.
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