Sebastian Burnside, NatWest’s Chief Economist said:
“Business activity among SMEs has cooled in line with the change of season. However, this slight dip in activity shouldn’t hide what are strong signs of underlying good health. Businesses have maintained a strong streak in new orders for 10 months’ running and employment has been a strong point for SMEs all year. And while many businesses report their margins remain tight, inflationary pressures have softened since the start of the year.”
James Holian, Head of Business Banking at NatWest, said:
“Above all September’s survey shows how variable the experience of SMEs is depending on which sector they operate in. Construction firms have just recorded their strongest rise in new work for two-and-a-half years, while services companies have recorded their fastest fall in activity in a year.
“Across the UK, NatWest Group is helping more businesses get started than any other bank, so we have a deep understanding of the local economies in which they operate as well as the opportunities and challenges they face. We’re committed to supporting businesses to thrive and are confident that with our help, businesses can maintain a positive outlook as we move towards the final quarter of this year.”
