Business Savings Blog | May 2018 – Confidence increases

Business confidence appears to be on the rise, with UK SMEs looking beyond current challenges and focusing on future opportunities.

According to the latest ICAEW UK Business Confidence Monitor, business confidence increased to its highest level in two years in Q2 2018, rising to +7%. The ICAEW says this is likely due to ‘improving sales growth and progress with Brexit negotiations’.

While there is a way to go in the Brexit negotiations before the UK’s exit deal is formally agreed, it is positive to see that confidence is heading in an upwards direction.

From our perspective as a specialist bank focused on supporting UK SMEs, we hope this increased optimism will encourage more firms to invest in the future of their businesses.

While there are a number of ways to invest in the future of your firm, business savings remain a valuable tool. We believe that during tough times like this it is important for businesses to remain focused on making the most of their hard-earned cash and to shop around for a savings account that provides them with a better rate of return than that offered by a current account.

Last year our UK SME Savings Tracker research showed that smaller businesses were saving 20% less than they were in 2016. We are conducting this research again in the next couple of months and it will be interesting to see whether business savings levels have increased in response to the uptick in confidence, we will be sure to share the outcome with you.

Find out more about our Business Savings and Personal Savings accounts.

Stuart Hulme
Director of Savings and Marketing

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