Skip navigation
Braant Accounting

overall business confidence has dropped from record-high levels in July 2014 to 43 per cent due to the fears of the global economic recovery

Leading providers of bookkeeping and accountancy services, Braant, have reported on the recent concerns regarding rising interest rates.

The most recent Business in Britain report conducted by Lloyds Bank has shown that more than 67 per cent of small and medium-sized enterprises in the UK are concerned about the prospect of rising interest rates in the next six months. The survey, which includes the opinion of more than 1,500 SME owners, has seen a number of people concerned about interest rate rises increasing from 65 per cent in Q1 2014 to 67 per cent in Q1 in 2015.

SME’s are also concerned about commodity price risks (59 per cent) and foreign exchange movements (56 per cent).

The report suggests that overall business confidence has dropped from record-high levels in July 2014 to 43 per cent due to the fears of the global economic recovery.
Tim Hinton from Lloyds Banking Group stated: “Interest rate uncertainty is a clear concern for businesses, with the possibility that rates may start to rise in small steps before the end of 2015 and in 2016. Businesses should consider how a rise in rates might affect their long-term plans, ensuring they are prepared for potential impact on their cash flow or their customers and suppliers.”

As leading providers of bookkeeping and accounting, Braant take a keen interest in relevant financial news. A spokesperson for the company made the following statement upon hearing the report. “An interest rate rise is likely at some point over the next 12 months. This means that SME’s need to be aware and prepared for the change. With this knowledge in mind, businesses need to alter and adjust their financial plans in order to take the interest rate rise into consideration. The right bookkeeping and accountancy firm should be able to help SME’s to adjust their long-term plans accordingly in order prepare for the impact that interest rates could have on their cash flow.”

Braant are a top ten rated and award winning firm of certified accountants and bookkeepers. Providing scalable bookkeeping and accountancy packages across London, Braant provide both day-to-day bookkeeping for SMEs and finance solutions that manage the entire finance function of large businesses.

This press release was distributed by ResponseSource Press Release Wire on behalf of Braant in the following categories: Personal Finance, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.