UK small business confidence is increasing

Discover Financial Services reports that UK small business owners’ economic confidence rose in August, improving from a 22 month low in June.

The Discover® Small Business WatchSM reached 86.9 in August, up 2.3 points from July and more than 15 points higher than June.

The number of small business proprietors who think the economy is getting worse dropped to 60 percent from 71 percent in July.

23% of small business owners feel the USA economy is getting better, which is the highest rating since August 2007.

51% rate the economy as poor, a decrease from 54% in July; while 15% ranked it as good, up from 11% in July.

However, 42% say they have experienced cash flow issues over the last 90 days, a significant increase from 33% in July 2008.

30% of owners say economic conditions for their business are getting better, up slightly from 28% in July, while 44% say conditions are getting worse, up just a point from 43% in July.

So the darkest part of the economic gloom may have passed. Small businesses are a very good indicator of changes in the state of UK business, since they experience variations quickly and clearly.

Our UK Business Directory, with 1.6 million businesses listed, most of which are small businesses, connects prospects to those businesses with no cost for the business.