ITWales.com

Report reveals falling confidence for Welsh SMEs

Business confidence among small and medium-sized enterprises in Wales is flagging, according to a new poll.

The Bank of Scotland's small business confidence index revealed a fall of four points to 36, on a scale of 100 where 100 is the most confident, the Western Mail reported.

It is the fourth quarterly decline in a row, totalling a fall of 12 points since last April.

The newspaper added that almost three-quarters of Welsh small business owners expected economic conditions to get worse over the next year, which is more than double the number on last year's expectations.

Ivan Matviak, head of Bank of Scotland business banking, told the Western Mail: "The ongoing turbulence in the financial markets is clearly taking its toll on the confidence of entrepreneurs in Wales."

Meanwhile small businesses across the country are awaiting the results of which has won Welsh Small Business of the Year, to be announced in May.

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