Confidence among British businesses is soaring, according to Westminster based law firm Bircham Dyson Bell.
Bircham Dyson Bell's first quarterly Entrepreneurs Optimism Index found that 80% of entrepreneurs expect consumer demand to grow over the next three months and 50% plan to recruit in that time.
An overwhelming majority of 92% believe their business will be profitable in three years and nearly three quarters are confident that now it a good time to start another business.
More than half (56%) said they have seen an increase in revenue over the past three months, and 64% have increased funding, as well.
Hollie Gallagher, Head of the Entrepreneurs Team at Bircham Dyson Bell, said: “Our inaugural Entrepreneurs Optimism Index shows an incredibly positive outlook amongst the business community, which is now experiencing growing profitability, increasing customer demand and higher employment. Interestingly, from the research and speaking to our clients, we have seen that business leaders are not confining themselves to starting and running a single business — they have continued to innovate and explore, treating their entrepreneurialism as providing a job for life.”
