Joanna Morris, head of insight at Novuna Business Finance said: “For many years, London has been the engine room of small business confidence, more business owners in the capital predicting growth than any other region of the UK.
Novuna Business Finance has tracked the growth forecasts of more than 1,000 small business owners every quarter for the last 11 years.
Chief among small business worries were the possibility of tariffs on UK exports to the USA (43%) and concern over the impact on UK economic growth forecasts and interest rates (33%).
The figures, compiled for Novuna Business Finance’s Business Barometer study, points to an alarming deterioration in sentiment since the relative optimism around the time of the election in early July.
The third quarter research was conducted a week after polling day and the results revealed the first solid rise in small business growth forecasts in nine months.
