Member Article

Micro businesses feeling positive according to research

A survey of micro businesses has shown that business optimism for 2014 is high, particularly in Liverpool and the North West, with many sole traders and part-time businesses looking to expand.

The study, which surveyed over 1,500 companies, is the only nationwide business confidence survey focused on firms employing 0 to 10 people and was conducted by Printing.com.

The survey gives unparalleled insight into the varying levels of optimism at the difficult-to-track grassroots level of the UK economy showed that companies in Liverpool were on average 68% more confident about doing business in the UK, compared to this time last year.

According to the Department of Business, Innovation and Skills there are some 4.9 million micro businesses, representing nearly 95 per cent of all UK firms. Of these, some 75% have no employees. The businesses are engaged in a broad range of activity including property maintenance, IT, health and beauty, estate agency, hotels/guest houses, manufacturing and various forms of consultancy.

In Liverpool, Harriet Gilmour of Experience Liverpool characterised the type of optimism that seems to be growing across the North West: “Tourism in Liverpool has been identified as a growth sector; this year it has been listed as Rough Guide’s third best place to visit in the world.”

In 2013 she took a leap of faith and became self-employed – feeling that the time was right and that the economy was at a crucial turning point. Experience Liverpool has also invested in a website launch in 2014, and plans to increase city tours.

The Printing.com survey posed the question: ‘How positive is your outlook for doing business in 2014?’ with 75% ‘positive’ or ‘very positive’.

It also asked: How likely is it that you will be launching new services or initiatives during 2014? Just on 80% responded ‘Likely’ or ‘Definitely’.

Asked how they felt versus this time last year, 67% indicated a more confident outlook with fewer than 3% being less confident. Some 30% indicated ‘about the same’.

“The results demonstrate the good news that the recovery is real at the level of Britain’s vital army of micro businesses,” said Tony Rafferty Printing.com’s chief executive.

Many UK regions told a similar story, with the South West showing the highest level of confidence (88%) in England against the North East reporting least optimism (72%). Across the UK Wales were the most cautious with 66% feeling positive about 2014, compared to Scotland at 80%.

“Micro businesses are the lifeblood of our economy and our survey has shown that their business confidence is on the up, with many looking to launch new services and initiatives and in turn create new jobs, “ added Tony Rafferty. “What’s required now is more recognition and support for the contribution micro businesses make to the economy. They account for millions of jobs but are often overlooked in discussions about the economy.”

Printing.com itself was founded by chief executive Tony Rafferty as a micro business, and has grown from a back bedroom to be traded on the London Stock Exchange as Grafenia PLC. The company is also an official delivery partner for the Government’s Start Up Loans scheme, which provides funding and mentoring for would-be entrepreneurs. You can see more on their website at: www.printing.com.

This was posted in Bdaily's Members' News section by Simon Malia .