Confidence among small businesses is cooling, according to the latest Federation of Small Business Index that was published in September.
While confidence levels remain firmly in positive territory, SMEs appear more cautious about their prospects than in recent quarters.
After an initial boost given by the clear outcome of the General Election, these results reflect the impact of recent changes announced at the Summer Budget, notably increased taxes on dividends and steep rises in the national living wage.
The number of businesses expecting to grow has also cooled but remains positive, with almost 6 in 10 small businesses (58.7%) anticipating expansion in the next 12 months.
Why Budget Tempers Optimism
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