Confidence among SMEs slumps

Long-term prospects are now front of mind for accountants

The results of the survey of over 1,600 SMEs were released shortly after GDP growth for the second quarter of this year was revised downwards to 0.1%.

The FSB has called for a targeted VAT cut and a national insurance contributions (NICs) holiday to counteract the pressures of weak demand and rising costs in the economy.

The results also showed that a net balance of 6% of businesses think that they will make redundancies in the coming three months, which the FSB said pointed to a further

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