FPB upbeat about the year ahead

The latest survey from the Forum of Private Business shows that 85% of its members are positive about the year ahead and intend to develop their business over the next 12 months; 30% expect to increase the size of their workforce, while 15% expect to increase the hours worked.

Alexander Jackman, head of policy at the Forum, said: “GDP figures are positive, employment is up and confidence among our members has lifted accordingly. With one in three looking to employ more people and one in 10 looking to increase hours, small businesses are showing a positive — though restrained — outlook for 2014.”

‘Time’ is cited as the main challenge facing small businesses — a change from ‘finance’, which was ‘number one’ throughout the recession. Cash-flow is the second most pressing concern, while a lack of ‘expertise’ comes third.

Mr Jackman added: “That ‘time’ is considered the biggest barrier to business growth sends a clear message to the Government. Now is the time to build on the success of the deregulation measures that have been introduced and to really push on minimising the impact of some of the big employment law reforms currently in progress. A focus on creating stability of regulation for small businesses would be enormously helpful.”