Data published by the British Chambers of Commerce (BCC) has found that key economic indicators have stabilised at ‘alarmingly low levels’.
The BCC revealed that business confidence, conditions and sales have ‘stabilised at low levels’, and inflation remains a top concern for firms.
The data showed that more businesses reported decreased cashflow compared to increased cashflow. Just 24% of businesses said their cashflow increased over the last three months, while 30% said it decreased.
Commenting on the data, David Bharier, Head of Research at the BCC, said: ‘These results provide further confirmation that business conditions deteriorated significantly in the second half of 2022.
‘The situation remains critical for the majority of SMEs who find themselves cut adrift by monumental inflationary pressures, often driving triple-digit percentage cost increases, particularly on energy.
‘Business confidence remains worryingly low, with only a third of firms reporting improvements to sales and less than a quarter reporting increased investment.’
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