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Business loan for restoring commercial confidence
Reported on Thu, 01 Jun 2006
Business confidence is at a low level for many smaller firms, sector analysts have claimed, but taking out a business loan could give companies the boost to get profits back on target.
The recent financial markets business barometer released by UK Lloyds TSB revealed a decline in the mood of UK firms over May, with levels of optimism for the rest of the year falling to 37 per cent from 56 per cent in the previous month.
According to John Butler, chief UK economist for bank HSBC, the figures have emerged because of "a lot of uncertainty as to which direction the economy will move" at a time when "global demand has been incredibly strong but the UK hasn't really benefited".
However, he insisted that pessimism would eventually give way since "there is a growth of the economy as a whole" and most companies currently stand equipped to withstand rises in interest rates.
Furthermore, recent figures have shown that manufacturing output has risen and business investment has increased by 1.5 per cent in recent months, heralding better prospects for later in the year.
Companies wanting to get themselves through a temporary quiet period could revive their profit-making operations and restore confidence by taking out a low-rate business loan.
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