Business Confidence

Confidence is currently low

There is no question that confidence in almost everything is low at the moment and this is being compounded by business owners being told continuously, from all levels, that it will take ten years for the economy to recover.  This can be demoralising for businesses.  We all know that starting a new company can be a daunting prospect but it gives people the ability to express their ambitions, do a job they enjoy and have the freedom to dictate their future.  For some, it can be exceptionally challenging and difficult to direct their focus, which is why there are services such as Business Gateway to provide the support and advice to get on the right track.

In the North East of Scotland, business start up has remained healthy, this is due to the strength of the energy industry and since March 2011, we have supported the creation of 1,300 new businesses.  This figure is on target to reach 1,700 by the end of March 2012, indicating that entrepreneurial spirit remains very much alive and kicking in. 

Secure the right support

Securing the right support and maintaining a forward looking, ambitious attitude can be the key for business owners to enjoy the rewards that running a business can bring. Whilst there is no doubt that things are difficult for small businesses, as indicated by this report by Aviva, from getting started to securing support from the banks, but there are still opportunities out there.  It’s essential that entrepreneurs draw upon the drive and passion that enticed them to go it alone in the first place and use their creativity to look for new ways of doing things, turning a negative situation into a positive one.

Thankfully, half of UK business owners are continuing to drive their business forward, despite the difficult conditions, two thirds haven’t lost their enthusiasm and three quarters of UK business owners haven’t decided to close up and go back into employment.  New and growing businesses are essential to rebuild the economy, so when faced with all of the negativity and constant reminders that things are difficult, entrepreneurs need to remain resilient and focus on the future of their business, which means digging deep, staying positive and getting the right support.

Gary McEwan

Gary McEwan
Chief Executive

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