More than seven in 10 small businesses describe themselves as confident about the UK business environment, despite economic uncertainty and worries over Brexit. Small businesses in Birmingham on average, expect their business to grow by 29% over the next 12 months. Outperforming the wider economy, which is currently growing at 2% according to the Office for Budget Responsibility.*

A report launched today by mobile payment company, Square surveyed 1,200 small business owners nationwide to reveal growth potential for small businesses across key UK cities taking into account business confidence levels, growth expectations, technology adoption and infrastructure.

Square’s report overall provided a positive picture of each city’s small business sector and good potential for future growth. The poll did however reveal an opportunity to drive business in terms of technology as local Brummies revealed they would rather shop locally by card if they could.

Commenting on the report findings, Sarah Harvey, UK Lead for Square, said:

“Much of the conversation about economic growth focuses on London and big business, but, interestingly, this research shows that it’s small businesses from all around the UK that are driving economic optimism.

One in three Brits works for a firm with fewer than 10 employees, and these businesses are a critical part of the UK economy. However, these are companies that have historically had less access to tools and resources than their larger counterparts, making it harder for them to grow.

The West Midlands has always had a rich culture of entrepreneurship, both past and present, which is why we recently focused our attention on the area with a pop-up shop offering advice and support for local businesses. We also worked hand-in-hand with key business owners in the area making them front and centre of our advertising campaign to help support their thriving businesses.

This study shows us that small business owners are feeling relatively confident about their growth potential, even during uncertain economic times. In part that’s thanks to the growth of technologies that level the playing field so businesses of all sizes and in all parts of the country have a fighting chance of success.”