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Dramatic slump in confidence among London small business owners

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Dramatic slump in confidence among London small business owners - Confidence in the capital seems to be falling faster than elsewhere in the UK says Novuna
The article from MSN discusses a significant decline in confidence among small business owners in London, as reported by the Federation of Small Businesses (FSB). The survey highlights that confidence levels have dropped to their lowest since the financial crisis of 2009, with only 2% of London's small businesses feeling optimistic about future growth. This downturn is attributed to several factors including high inflation rates, increased operational costs, and a challenging economic environment post-Brexit. The article notes that sectors like hospitality, retail, and construction are particularly hard-hit, with many businesses struggling with cash flow issues and reduced consumer spending. Additionally, the ongoing uncertainty around trade deals and regulations post-Brexit has further dampened the spirits of these entrepreneurs. The FSB has called for government intervention to provide support through tax reliefs, better access to finance, and simplification of regulations to help these businesses navigate through the economic downturn.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/money/economy/dramatic-slump-in-confidence-among-london-small-business-owners/ar-AA1yO9uE ]