Bowmark’s Entrepreneurs Index Distinctly Gloomy

The Index is a survey of small to medium-sized businesses in the UK with tracks respondent’s levels of optimism, financial performance and prospects together with corporate activey and cattitudes tot eh canllenges and opporuties they face in the current economic climate.

Looking at small and medium-sized media and publishing companies, these have reported the lowest levels of optimism among UK businesses.

The index for media and publishing respondents about their own business has dropped by nearly 11 points since the last survey in January 2008, to 65.2, while optimism about the media and publishing industry in general declined 9.8 points to 53.6.

Yesterday’s Bellwether report stated that marketing budgets had been revised downwards during the last quarter to the greatest extent since 2001 (see Largest Marketing Budgets Cuts Since 2001).

Disappointing sales, rising costs and growing economic gloom were cited as reasons for companies cutting marketing budgets and it expects further cuts later in the year.