Small business optimism on the rise
Almost two-thirds of small businesses are optimistic about their sales growth over the next 12 months, according to the latest Bibby Barometer survey.
The twice-yearly survey measures the sentiment of more than 200 small businesses, with the index up 13 points since the last reading in July 2012.
Sixty-five per cent of small businesses are optimistic about sales growth for the next 12 months, up from 51 per cent six months ago.
Almost half (47 per cent) of small businesses are more concerned about global economic conditions than they were a year ago, which is little changed from six months ago (51 per cent).
Twenty-eight per cent of small businesses intend to invest in their business in the next 12 months, up from 20 per cent in July 2012.
But just under half (48 per cent) of small businesses are hampered by problems with cash flows - with little having changed in that department over since the last survey.
A contributing factor to the cash flow problem is the length of time that small businesses have to wait to be paid, with 48 per cent of experiencing delays.
Seventy-three per cent of small businesses have implemented measures to deal with cash flow issues, such as: including early payments discounts, conducting cash flow forecasts, conducting periodic cash flow health checks with accountants or advisers, or conducting credit checks on new customers.
"Small businesses are just as likely to manage cash flow by dipping into their personal finances (20 per cent), or else taking out or increasing their overdraft (17 per cent), which is placing increasing stress on business owners," said Bibby Financial Services national sales director Gary Green.
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