• Swindon & Wiltshire Economy
• Wednesday September 30 2026

Business owners remain confident on growth despite economic uncertainty

South West business owners remain overwhelmingly confident about their prospects despite concerns about potential tax rises, rising costs and ongoing economic uncertainty, according to new research from S&W.

The latest Business Owners Sentiment Survey from the accountancy, tax, and professional advisory firm found that almost all South West business owners (92 per cent) surveyed expect their business to grow over the next 12 months, with 42 per cent anticipating significant growth and a further 50 per cent expecting modest growth.

The survey was conducted among 500 UK business owners at companies with annual turnovers ranging from £500 million or more down to £5 million, including 50 respondents from across the South West.

That optimism is particularly notable given the concerns business owners have expressed ahead of the Autumn Budget.

In the South West, 42 per cent of business owners surveyed would consider moving their business abroad if taxes are increased further.

In addition, 46 per cent of business owners surveyed said they would be deterred from starting a new business if higher capital gains tax rates are introduced at the Autumn Budget.

Despite these concerns, confidence remains resilient. The research found that 52 per cent of South West business owners surveyed believe the UK is becoming a more attractive place to start, grow and own a business than it was a year ago.

While confidence is strong amongst the majority of business owners in the South West, they remain alert to a range of challenges. Business rates were identified as the biggest challenge currently being faced by businesses surveyed (44 per cent), followed by red tape and the regulatory burden (30%), and then higher employment costs (28 per cent).

The survey also found strong support for greater local decision-making, with 54 per cent of South West business owners surveyed saying that giving regional and local government greater control over local taxes would make businesses more likely to invest, expand or create jobs in their area.

Helen Bassett, regional managing partner at S&W said: “South West businesses are remaining confident in the face of uncertainty. While business owners have genuine concerns about the potential impact of future tax changes and rising costs, they remain ambitious about the future and committed to growing their organisations.

“What stands out from this research is the determination of businesses across the region to invest and move forward despite the challenges they face. The South West has always been home to innovative and resilient businesses, and that entrepreneurial spirit continues to shine through.

“The focus in the Autumn Budget should be on creating the conditions that allow businesses to convert that optimism into growth, investment and job creation for the region.”