Comment: The FSB’s Voice of Small Business Index, Q1 2017

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Tony Duggan, CEO of Crossflow Payments, comments on the FSB’s Voice of Small Business Index, Q1 2017:

“While it is welcome SME confidence is at its highest level in a year, operating costs reaching a four-year high is cause for concern. Increased cost pressures suffocate small businesses – who are the backbone of the economy and account for 99% of all private sector businesses.* With the uncertainty of Brexit on the economy, we must ensure that SMEs are protected from downside risks”.

“The business community must come together and work closely with government and regulators to reduce operating costs for small businesses. As part of this, they should explore further how SMEs can optimise their working capital through supply chain finance solutions. Being able to unleash the £26 billion** locked up in late payments will help SME’s to mitigate cost pressures and ultimately give confidence to more businesses to unlock their full potential.”

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