The latest Small Business Index (SBI) from the Federation of Small Businesses (FSB) presents a mixed picture across all industries, with double-digit bankruptcy figures from a year ago.
Nearly half of small businesses do not expect growth over the next year between the cost-business crisis and the growing gap between industrial optimism.
The headline SBI UK Confidence Reading for Q1 2022 is at +15.3, which means more small business owners expect their business performance to improve in the coming quarter than expected. That figure is down 12 percentage points from the same period last year, but is significantly higher at Q4 2021 (-8.5).
Firms in the housing and food sector (+16.5), which have benefited from comfortable travel rules, are the fastest growing in this quarter, as are those engaged in information and communication activities (+32.1), which Most of them are fast adapting to hybrid work.
In contrast, manufacturing (-9.1) and wholesale and retail (-8.2) firms report negative readings as rising operating costs, supply chain disruptions, labor shortages and tightening consumer belts weigh on expansion plans. Keeps According to an ONS update released on Friday, retail sales fell 1.4 percent in March.
87% of small business owners say operating costs are higher now than they were last year. Shares also contributed to the rise, citing fuel (60%), utilities (58%), and taxation (27%), all of which rose after the rise in national insurance rates and the issuance of new business rate bills. Are high month
Against the backdrop of disruptions in the global supply chain, labor shortages and rising wages, a significant proportion also shakes input (48%) and labor (40%) as contributors to higher costs. The majority (55%) of small business owners say they are working beyond capacity.
An ONS survey of 9,000 businesses published on Thursday shows that one in seven businesses is not fully trading at the moment. Nearly one in three (29%) has to pass on rising costs to consumers, and one in ten (12%) has been directly affected by the disruption in the supply chain.
One-fifth (20%) of small business owners are planning to increase their head counts in the coming months. The rate of wage growth (62%) over the last 12 months is at a two-and-a-half year high.
The number of firms that report that they are currently exporting (23%) fell 4 percentage points year-on-year to the lowest point since the spring of 2020 (22%) when stopping the spread of code For the first time.
One in eight (13%) small exporters have suspended sales to the EU temporarily or permanently, and another 9% are considering doing so. A similar proportion (13%) has laid a foundation on the continent, or is trying to do so. A growing number (10%) are exporting to new markets outside the EU.
More than 5,000 corporate defaulters were registered in England and Wales in the first quarter of this year, according to figures released on Friday. That number is more than double the number recorded in 2021 during the same period, and 15% higher than in Q1 2019 before the outbreak of the epidemic.
FSB National Chair Martin McTag said: "It is encouraging to see small business confidence in a positive territory, although the picture for all sectors is clearly mixed.
The small business community shrunk by hundreds of thousands in the face of epidemics. With the number of quads falling now, this summer needs to be where we start to change this trend - policymakers should do everything possible to facilitate and encourage startups and side hostels.
"The New Enterprise Allowance, which helped people to shift benefits and economic inefficiency to small business ownership, has now sadly been withdrawn. The government's own figures show that 500,000 people, including 50 Older people, including those who have stopped working altogether - should be encouraged to start a small business this summer.
"We look forward to working with BEIS on new initiatives to help emerging entrepreneurs as part of its forthcoming enterprise strategy without having to invest in them, allowing the launch to grow further. We are encouraging policy makers to build on the success of the Center for Entrepreneurship Migrant Entrepreneurship Program.
"Our message to consumers, policy makers and corporates is clear: let's make it a small business summer - supporting 99% on which our recovery will depend."
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