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    Home > Finance > Tariff 'noise' makes business customers slow to spend, says UK's Sage
    Finance

    Tariff 'noise' makes business customers slow to spend, says UK's Sage

    Published by Global Banking & Finance Review®

    Posted on May 15, 2025

    2 min read

    Last updated: January 23, 2026

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    Quick Summary

    Sage reports small businesses are hesitant to spend due to tariff uncertainty, yet maintains its growth forecast. Sage continues investing in AI to aid customers.

    Sage Sees Business Spending Hesitation Amid Tariff Concerns

    LONDON (Reuters) -British software company Sage said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast.

    The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year.

    Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious.

    "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest."

    Shares in Sage fell 5% in early deals, wiping out the gains they had made this month.

    The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half.

    Its margin increased by 140 points to 23.2%.

    Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses.

    Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said.

    ($1 = 0.7531 pounds)

    (Reporting by Paul Sandle; editing by Barbara Lewis)

    Key Takeaways

    • •Sage reports 9% revenue growth despite spending hesitation.
    • •Tariff uncertainty affects small business spending confidence.
    • •Sage maintains full-year growth forecast.
    • •AI investments continue with Sage Copilot's expansion.
    • •Shares fell 5% despite strong financial performance.

    Frequently Asked Questions about Tariff 'noise' makes business customers slow to spend, says UK's Sage

    1What is the main topic?

    The article discusses Sage's report on small businesses' spending hesitation due to tariff uncertainty and its impact on growth forecasts.

    2How is Sage addressing business challenges?

    Sage is investing in AI to automate tasks and improve business efficiency, with tools like Sage Copilot.

    3What financial performance did Sage report?

    Sage reported a 9% revenue increase and a 16% rise in operating profit for the first half of the year.

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