New reports reveal UK businesses are gaining confidence
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New reports by the Confederation of British Industry (CBI) and BDO Stoy Hayward have indicated that business confidence in the UK is improving.
The CBI Access to Finance Survey found that firms are less negative about the availability of new and existing credit than in the previous three months.
Regarding new credit, the net percentage of firms saying availability had deteriorated in the past three months was a balance of -36%, compared with -59% in February. For existing credit, the balance was -16% compared with -25%.
BDO Stoy Hayward's business trends report revealed that business confidence increased for a second successive month from 88.3 in February to 88.6 in March.
"Until now, confidence has been in freefall, and while conditions in the employment market will worsen in the coming months, some businesses are starting to view the future with less trepidation," said Peter Hemington from BDO Stoy Hayward.
