SME confidence hits record low

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The business organisation for SMEs said that confidence had plummeted by 15.2 points in the final quarter of 2011 to a record low of -24.5. It attributed the fall in confidence to businesses being hit by high inflation, rising utilities bills and reduced consumer spending power.

The Index, which draws on 1,600 responses from across the country, also found that one in eight firms (12.6%) expect the economic situation to worsen in the coming three months.

John Walker, national chairman of the FSB

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