Business loans could be driven by optimism among small company bosses

Mon, 22 Jan 2007

Some four in five small business owners and managers believe that their company will perform at least as well in 2007 as last year, according to a new study, which may hint at increased demand for business loans.

Analysis of entrepreneurial attitudes from Bank of Scotland Business Banking for its Quarterly Small Business Economic Confidence Survey reveals that 82 per cent expect their firms to do better than or match last year's performance.

Meanwhile, 56 per cent of small business heads believe that the UK economy as a whole will improve or stay the same as in 2006, the financial services provider reports.

The revelation suggests that a number of small companies may be encouraged to expand their operations in the coming year, which may necessitate taking out a specialist small business loan.

Kevin Gillet, head of Bank of Scotland Business Banking, commented on the figures.

"The UK's small businesses are the backbone of the economy," he said. "This report paints a very encouraging picture for 2007 with rising economic and business confidences."

In related news, this month has seen consumer prices index inflation rise to three per cent, which is its highest level in a decade.


add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page



 

Business Newsletter

Please enter your email below and subscribe to our monthly newsletter

Reduce mortgage paymentsSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health InsuranceProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.