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Confidence Index Shows UK's Micro Businesses Bullish About The Year Ahead

Stocks in this article: VPRT

LONDON, May 24, 2012 /PRNewswire/ --

Revenues Growing or Stable for Majority and Almost 1 in 5 Looking to Recruit

Despite the Eurozone crisis, and economic doom and gloom at home, the inaugural Vistaprint Micro Business Confidence Index paints an optimistic picture of how Britain's micro businesses are performing. 72% of the 1,010 respondents from micro businesses reported revenues either higher than last year (33%) or the same (39%) in the last six months, while only 16% said that they were less optimistic than last year.  

     (Photo: http://photos.prnewswire.com/prnh/20120524/533485 )

95% of UK businesses can be described as micro businesses [1], having less than ten employees and £1.7m in revenues.  They account for nearly one fifth of the UK economy, turning over more than £613,266 million each year [2].  The launch of the Vistaprint Confidence Index coincides with major enhancements to Vistaprint's flagship business card offering.

East Anglian micro businesses are the most confident for the year ahead, while companies in the Midlands are the least confident.  In the last six months, Wales has seen the greatest increase in revenues (38%) closely followed by the North West (37%).   Further highlighting the confidence in the micro business sector is that almost 1 in 5 (17%) of those questioned will be looking to recruit in the next 12 months.  If only half of these intentions become reality, more than 360,000 jobs [3] will be created.

Commenting on the index results, Richard Moody, Director, Vistaprint, UK and Ireland said; "These figures show that micro businesses are an often overlooked and under-appreciated part of the UK economy.  Regulations and employment drivers are usually focused on larger businesses, but the first Vistaprint Micro Business Confidence Index shows how important a role they play in fuelling growth in the economy.  This first dedicated effort to listen to the micro business sector demonstrates that these businesses need to be supported and nurtured if we want to create the economy growth we all need."

Eurozone impact

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