Nonetheless, Bibby doubts this renewed confidence will prove sustainable within the industry, with their chief executive, Edward Winterton already seeing signs that confidence is “edging back”.

The federation warned this month that a record number of small business owners had said that they were preparing to close, downsize or sell as their costs hit a five-year high.

Mr Winterton said the resilience among the 1,000 owners that Bibby surveyed had come in spite of concerns about economic uncertainties.

Until we pass the Brexit finish line, Britain is forced to endure prolonged uncertainty. This is particularly harrowing for our small business owners who have so far struggled with the collapse of one of their biggest suppliers, as well as a skills gap and an increase in interest rates. It is, therefore, encouraging to see numbers of small businesses finally turning away from the doom and gloom, and turning towards the growth of their business.

Here at the Credit Protection Association, we help small and medium-sized businesses free up cash flow to allow them to pursue new ventures and expansion models. We encourage small business owners to come to credit management companies like CPA for help with funding, where we help your cash flow, advise you about credit checks and ratings and we maintain a database of disqualified directors which will help you know who you don’t want to do business with. Please get in contact with CPA with the details below!

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!