Bill Esterson MP, Labour’s Shadow Minister for Small Business, commenting on a Federation of Small Business (FSB) survey showing that small firms are reporting an increase in confidence, said:

“Our national economic prospects are tied closely to the wellbeing of our 5.4 million small businesses, so reports of improvements in business confidence are welcome. Nevertheless, their optimism must be weighed against the very real challenges they face: from worrying rises in supply chain costs, which the report clearly highlights, to uncertainty over post-Brexit trade deals and tariffs. 

“This increase in confidence among small businesses comes in spite of the Government’s complete lack of a plan for jobs, business or our economy. If cautious optimism is to translate into long-term growth, the Government must present concrete provisions on the obstacles that threaten to hold business back: a guarantee on tariff-free access to the EU single market, steps to tackle the skills shortage, an overhaul of business rates, and an end to rampant poor payment practice by larger firms and Government to their smaller suppliers.”