Bibby Financial Services: Together, we will grow.

The economic landscape remains challenging, and we need to ensure sufficient support for SMEs, the backbone of our economy. Working together has never been more important.

In a landscape where uncertainty seems to be the only constant, SMEs continue to navigate a maze of challenges. Just a few months ago, the dust was settling on the 2024 general election, and businesses were considering the road ahead post the Autumn Budget. Moving into 2025, they continue to operate in a high-cost environment, with February’s inflation figures showing a rise in Q4 and cost pressures heightened by recent changes to employer taxes.

We took our latest “temperature check” of the SME community in Q1 this year, surveying 1000 businesses across key sectors to understand challenges, sentiment, and intentions. Our findings show a mixed picture; ongoing cost pressures are acute for many, whilst intention to grow sales is strong. It’s clear that businesses will need to be supported with the means to match the mindset.

Spotlight on SME challenges
Inflation and the overall high cost of doing business are of rising concern,

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