The mood of small and medium-sized UK businesses has become distinctly gloomy in the past six months, according to the latest Bowmark Entrepreneurs’ Index.
The Optimism Index, which tracks how positive respondents are about their businesses revealed there has been a drop by nearly 10 points to 66.7 since the first survey was published in January. Their optimism regarding UK entrepreneurial businesses has tumbled 13 points to 49.7.
In the latest survey, 29% of respondents said that banks were offering them worse terms to fund acquisitions than six months ago. However, it’s not all doom and gloom – companies still have a strong financial base; 98% were having no problems servicing their debt in spite of the downturn in their optimism, past performance and prospects.