This week, Axis Telecoms explains why a new survey suggesting that SME’s are feeling more confident economically, is good news for your small business’ profit margins.
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An independent energy and telecoms supplier, Axis Telecoms provide a high quality of service because we are always thinking about how we can save you money. That is why we strive to bring you the latest national SME news that could benefit your company’s bottom line.
Every so often, we see a new poll that tells us how small businesses are going to fare in the months and years ahead. This week we caught wind of a new poll, suggesting that SME’s are going to prove quite profitable going forward.
Three Fifths of SME’s Expect Economy to Grow
According to the BBC, a new quarterly survey released by the Federation of Small Businesses (FSB), has shown that small businesses are feeling more confident about the state of the economy. Three fifths of those questioned expect it to grow in the 12 months to come.
Meanwhile, further FSB data shows that one fifth of businesses surveyed expect higher profits in the next quarter, and a third think it likely turnover will increase. This correlates with Office for National Statistics (NOS) data, which showed that the UK economy grew 3.2% in the second quarter of 2014, as compared to the same quarter in 2013.
Record Breaking Confidence from Small Businesses
John Allan, national chairman of the organisation, commented on the data. Allan said that: “We’re seeing record breaking confidence from our members which suggests small firms will continue to spearhead the UK’s recovery.
“We want policy makers to lock in this optimism and continue to back the self-employed and small businesses. As we head in to party conference season, we’ll be looking to all the political parties to spell out what they will do to encourage job creation, investment and reward entrepreneurs in the next Parliament.”
Opinion is the Harbinger of the Future
Opinion is the harbinger of the future. That is why these results could be good for your profit margins going forward. Quite simply put, these small businesses must have a reason to believe that the economy will grow, and they are the best positioned to accurately predict such an event. If they think it’s true, then there’s a good chance your profit margins will soar in the months and years to come.