The Eurozone and government cuts top SME worries
UK SMEs have identified continuing Eurozone woes and government spending cuts as the main factors impacting upon their business optimism, according to an Axa Commercial Lines study.
The survey of 500 SME leaders in the UK saw almost half of respondents (49%) state that the economic situation in the Eurozone was the top factor affecting optimism about the future. Government spending cuts came second in the research with 46% highlighting their impact.
According to the insurer, as a result, nearly two-thirds of respondents (65%) are not expecting their business to grow over the next six months, and almost the same amount predict they will make the same or less profit this year
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