According to GE Capital International’s latest European SME Capex Barometer, SMEs across Europe are much more confident about the economic climate and their prospects in 2014.
Total net confidence levels – defined as the proportion of businesses which reported positive sentiment, minus those reporting negative sentiment – reached 33% in Q1 2014, up from 15% in Q1 2013. The most confident markets are the UK (54%, up 21%) and Germany (flat, 45%), with confidence increasing across all other markets surveyed.
Maurice Benisty, chief commercial officer of GE Capital International, said: “The economic recovery in Europe is gaining traction and we are encouraged to see many markets feeling more positive about their future growth prospects. We are now looking to see this optimism translate into increasing business investment which will help fuel further growth.”
The research, based on interviews with more than 2,250 SME business leaders in Q1 2014, finds that SMEs no longer see economic uncertainty as being such a significant obstacle to investment. Only 29% of firms reported this to be a barrier, compared to around 43% last year.
Link to GE Capital International news release:
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