North-South divide on business confidence, says RSM Tenon

SMALL business owners in the North are more pessimistic about their future prospects than their southern counterparts.

That’s according to accountancy group RSM Tenon which quizzed 300 senior managers around the country.

More than half of northern respondents (54%) said they weren’t confident that things would improve for their business once the economy recovers, compared to 41% in the South.

SMEs in the Scotland were the most positive about their future, with 58% – the highest in the survey – saying that they were confident things would improve.

However, the business barometer – a quarterly survey carried out for RSM Tenon by YouGov – did highlight some optimism in the North with 42% expecting business to improve.  

Chorley-based Jon Pinder, office managing director RSM Tenon in Lancashire, said: “I don’t think we should be surprised that SMEs are still unsure as to the outlook for their business.

“The threat of a double-dip recession and the continuing economic turmoil in the eurozone will continue to make them concerned for the future, and I think it may be some time before we start to see any serious confidence coming back into the SME market.”