Business Advice for all UK firms from starting a business to flotation
Business confidence at 6-year high
Confidence among British businesses has risen to the highest level for six years, according to data released by the Institute of Chartered Accountants (ICAEW).
The ICAEW's Business Confidence Monitor climbed to 24.6 for the fourth quarter of the year - a large increase from the previous quarter's reading of 4.8. This is the highest reading since the Business Confidence Monitor began in 2003 and fuels hope of an economic recovery.
Businesses are also reporting an easing in the pace of decline in their profits, with the average drop for a company in the UK expected to be 2% in the year to the fourth quarter. This is compared to a 3.2% decline in the 12 months to the third quarter of the year.
"The recovery is very fragile and will take time. Tightening of fiscal policy, the return of VAT to 17.5%, continued difficulties accessing finance and a budget Christmas by consumers are all potential threats to this recovery," said Michael Izzam, chief executive of the ICAEW.
Post Date: November 23rd, 2009
The ICAEW's Business Confidence Monitor climbed to 24.6 for the fourth quarter of the year - a large increase from the previous quarter's reading of 4.8. This is the highest reading since the Business Confidence Monitor began in 2003 and fuels hope of an economic recovery.
Businesses are also reporting an easing in the pace of decline in their profits, with the average drop for a company in the UK expected to be 2% in the year to the fourth quarter. This is compared to a 3.2% decline in the 12 months to the third quarter of the year.
"The recovery is very fragile and will take time. Tightening of fiscal policy, the return of VAT to 17.5%, continued difficulties accessing finance and a budget Christmas by consumers are all potential threats to this recovery," said Michael Izzam, chief executive of the ICAEW.
»
- Login or register to post comments
- Printer friendly version
Post Date: November 23rd, 2009
.
.
Accounting Advice | Banking & Finance | Business Continuity | Entrepreneurs | HR/Payroll Advice Insurance Advice | International Trade
Internet Advice I.T. Advice | Legal Advice | Marketing Advice | Office Management | Pensions & Benefits Property/Relocation | Recruitment Advice
Starting a Business | Telecommunications | Training/Education Travel Advice | Utilities Advice | Vehicles
copyright © 1998-2018 Newbusiness.
Homepage | Terms & Conditions | Copyright & Trademarks | Privacy Policy | Sitemail & Forum Policy | Sitemap