According to a recent article published in the Financial Times 15% of the UK’s most successful entrepreneurs plan to move their business out of the UK. A poll called the Investec Entrepreneur Confidence Index which is produced in collaboration with the Entrepreneurs Organisation tracks the attitudes and opinions of the top 48 entrepreneurs in the UK. Apparently, they believe that the economy will get worse in the coming 12 months and this is the reason that they may look to move abroad. What struck me as odd though, was that despite this fear over the economy, 9 out of 10 fel that they would actually increase profits – is the apparent state of the economy just a good excuse to get out of Britain?
As we know though, 48 is not a great number; and although they may be highly successful their opinion probably doesn’t reflect the opinions of the vast majority of smaller business owners and entrepreneurs upon which the British economy depends. In the networking circles I belong too, confidence has never been higher and according to a survey by Lloyds TSB of 2,300 firms across the UK business confidence is at it’s highest level since 2007.
This is apparently due to what is being called the ‘export effect’ rather than an improvement in local and domestic markets. Of that 2,300 business, a quarter expected their profits to grow in the second half of the year.
And finally, a survey conducted by Sage UK of 1,500 businesses, has found that 40% of the UK’s smaller firms are also predicting business growth in the next six months and not only that, but 30% of them are expecting to employ new staff. As we already know, small businesses and entrepreneurs are the key to growing jobs in an economy and if they are feeling brighter and more optimistic, why aren’t our top 48?
