Originally written by Anna Jordan on Small Business
The UK’s waning productivity levels won’t improve any time soon, according to the latest Small Business Index (Q2) from the Federation of Small Businesses (FSB).
Political uncertainty is the key barrier in business expansion and boosting productivity levels.
Finding staff is also proving difficult, with 35pc of small businesses struggling to find appropriately skilled employees. That’s the largest proportion since Q3 2015. The net balance (the proportion of those hiring new staff minus the proportion reducing their team size) is at a three-year low at -2pc.
A massive seven in 10 businesses (72pc) are not planning to invest in their own companies over the coming three months – the highest since Q2 2017. What’s more, ONS figures reveal that business investment fell over four consecutive quarters for the first time since the financial crash in 2008.
Mike Cherry, FSB national chairman, said: “It’s impossible for small business owners to invest for the future when we don’t know what the future holds.
“We urgently need to see both prime ministerial candidates spell out their plans for supporting small firms and securing a pro-business Brexit – one that encompasses a comprehensive deal and a substantial transition period. Fast and loose