Monday, 14 April 2014

Latest SME Monitor Results

In the latest SME Monitor produced by Cebr for Aldermore Bank many positive indicators show that the economy is on the mend.

Here are just a few of the indicators that the report highlights:
• The UK economy expanded by 0.7% quarter on Quarter in Q4 2013.
• Recovery is expected to gain further momentum over 2014 as a whole, as GDP is projected to rise by 3.3% year on year
• Growth is coming from all three major industrial sectors, production, manufacturing, and services.
• Annual cost inflation for small and medium-sized manufacturers fell back in Q4 2013 to 0.2% down from 0.7% in the previous two quarters
• Borrowing costs continue to fall back for UK SMEs, with the median interest rate offered to medium-sized enterprises falling to 3.2% in November 2013. Rates have not been lower than this since June 2009.
• The same goes for small enterprises where the median rate offered was 4.4% down from 4.8%
• The confidence level for SMEs climbed to +39.7 this quarter, its highest reading since Q1 2010.
• In Q4 2013 there were 3,800 business failures, down from 4,200 the previous quarter

All in all the future is definitely looking brighter for SMEs.