Recruiters are reporting increased business in Q3 as small businesses resume hiring following the UK’s vote to leave the European Union.
This is despite falling confidence among the UK small business community.
Research from The Federation of Small Businesses (FSB), released today, has found that UK small business confidence has fallen into negative territory for the first time since 2012, with business owners feeling confident outnumbered by those that are not.
In the first data gathered since the UK’s decision to leave the EU, the FSB Q3 Small Business Index (SBI) found business confidence in negative territory (-2.9). This marked the second largest year-on-year fall in confidence in the Index’s history, with the largest drop occurring in the previous quarter of 2016 (Q2). Confidence has now fallen for the last three quarters in a row.
However, small businesses have started to take on new staff, with a net balance of 7% of small firms report increasing headcount this quarter, marking the first time that smaller companies have reported an increase in hiring this year.
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