Sentiment among Print firms continues to improve
Our Business Sentiment Index (BSI), which measures SME business confidence, has risen modestly for the third consecutive research period, with the Print sector maintaining its upward trajectory.
Appetite for investment
Print firms’ appetite to invest dipped slightly from a high of 82% in September 2023 to 77% in January 2024, but despite the slight dip, it is still among the highest of the sectors we track.?
Missed opportunities
The number of companies that have missed business opportunities because of a lack of available funding continued to fall and this latest figure is in line with the more normalised levels achieved for this question, last seen in May 2022.
At 37% (Sept 2023: 48%), the Print sector’s responses are very much in line with that of the UK, as a whole.
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Economic outlook
Confidence in the macroeconomic outlook among SMEs – including those in Print - has incrementally improved, achieving positivity for the first time in around two years, but it’s worth remembering that in November 2021, 75% of respondents were positive about the economy – by January 2024 this had reached just 46%, which is itself an improvement compared to September 2023 (43%).
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Predicted business performance
Reflecting the overall BSI result, predictions about future business performance rose slightly. What hasn’t changed is that most firms expect to continue treading water in 2024, with their prospects remaining unchanged.
Paul Philbrick, Managing Director of Close Brothers’ Asset Finance’s Print Division, said: “The recovery in confidence, albeit cautious, among the UK’s small and medium business owners continues, is clearly positive news.
“However, our research reinforces the feedback we’re getting from the stakeholders in our key sectors that the recovery in sentiment very much depends which industry they operate in.
“Our commitment to the SME community is that we will continue to work with firms through the cycle, providing expert advice and building long-term relationships, as we’ve always done."