Business confidence 'on the up'

A new survey has revealed that the level of business confidence in the UK is improving.

The Lloyds TSB Business Barometer for May indicated a rise in confidence for the third successive month, with the number of firms expecting business activity to rise increasing to 44 per cent from April's 35 per cent.

At the same time the number who anticipated a worsening of business fell from 21 per cent to 16 per cent.

Chief economist for Lloyds TSB Corporate Markets Trevor Williams stated: "While it would be premature to talk of an end to the recession, we should be careful not to overlook the significance of the growing confidence we are witnessing amongst businesses."

Those thinking of starting a business may consider now a more promising time to do so, with the chance to save money by picking up a pack on how to deal with the legal aspects and save money that would otherwise be spent on engaging lawyers.

Optimism may also be justified by the latest Organisation for Economic Co-operation and Development Composite Leading Indicators, which the body has said suggest a further slowdown in the rate of deterioration in the UK economy.

Written by Rachel Crook

Published on: June 8, 2009

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