UK Business Mood is the best in 10 years!

By : Administrator
Published 30th May 2014 |
Read latest comment - 30th May 2014

Well according to all the news agencies. Positive headlines are flowing in all directions, crack open the champagne, consign the phrase "credit crunch" and doom and gloom headlines to history (or at least until then next recession), and bask in economic glory 

So some good news from the CBI (Confederation of British Industry) and BCC (British Chambers of Commerce) telling us the economy is growing at the fastest rate for over 10 years and we are expecting a growth of 3.1% this year.

So what about small businesses and owners?

Does this news reflect the reality of small business owners, is it good news all round, or situation normal and you haven't seen any difference either good or bad?

I suspect we may start to see a slow down in new businesses starting up if the economy is stabilising as unemployment and redundancies inn theory should fall. As this should mean fewer people becoming self-employed as a necessity as opposed to wanting to, but that's just my theory.

Guess time will tell over the next 12 months or so.

Anyone got any thoughts?


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn
Comments

From my perspective business is good, in fact I would say it is booming, with plenty of orders for new electric heating systems as well as new enquiries coming in on a daily basis. I do have a couple of issues though, cash flow can be a problem at times as well as labour. I currently have more confirmed orders than I can cope with which I guess is just as bad as not having enough orders. I find at present I'm running around like a headless chicken again, spinning too many plates. When I set up the business 18 months ago, obviously I had to open a new bank account, the bank promised the earth but delivered nothing. The banks business advisor asked what the predictive T/O would be, as I already knew where the heating market was and where it was heading (still is) I told him what I believed to be a good estimate, I underestimated by around a 1/3... This years current T/O has already passed last years.

So there are lots of pros and lots of cons at the moment, any finance invested into the business was mine. But for me getting someone else on board there always seems to be a trust issue on my part, but it is something I need to do if I want this business to expand...


Thanks,
Barney

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