The latest FSB Voice of Small Business Index (SBI) shows that North West business confidence has fallen to 21% in the second quarter of 2021.

This is down from 39% the previous quarter – the highest level since 2015 – when shops began to re-open in England and Wales.

However, with confidence understandably fluctuating during the past 12 months during the COVID pandemic, FSB’s research shows sentiment in the region has remained positive in 2021. This coincides with the continued relaxation of COVID safety regulations.

Encouragingly, the number of businesses reporting increased profits (40%) has increased significantly over the past three months – the last time North West small businesses were asked about profits, in quarter four of 2020, just 21% reported growth.