Small businesses 'confidence' up slightly: SBCI

Small and medium businesses in India are cautiously optimistic about their business performance for Q3 2024, according to the ASSOCHAM-Dun & Bradstreet Small Business Confidence Index (SBCI).

- LATHA SRINIVASAN

The index, which measures the level of optimism of small and medium businesses on key business parameters, such as sales, employment, prices, inventory, and investment, increased moderately by 0.2 per cent compared to Q22024.

"As is clear from the latest IMF World Economic Outlook, the Indian economy is projected to be the fastest growing amongst the leading economies of the world. Our survey amongst the SMEs' executives clearly points towards significant contributions from the small businesses," said ASSOCHAM Secretary General, Deepak Sood.

ASSOCHAM D&B SBCI has recorded a modest uptick of 0.2 per cent for Q3 2024, following three consecutive quarters of rising optimism. The survey indicates that the overall demand sentiments within the economy are stabilising at current levels, after riding high for four consecutive quarters. The slight moderation in demand growth is also being echoed in most of the parameters recorded in the survey.