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Business confidence is on the rise

freelancesupermarket.com newsroom

RSS 07 January 2010
Figures from Lloyd's TSB published in December revealed that business confidence is at a two-year high, with many firms hopeful of a turnaround in economic circumstances in 2010.

Despite this new level of confidence, George Derbyshire, chief executive of NFEA says that businesses need to remain confident in the coming months in order for the UK to return to economic growth and he warns that 2010 is going to be a difficult year for businesses.

The run-up to this year's election is likely to affect investment decisions, which in turn will have a knock-on effect on companies' trading levels.

"Confidence needs to be maintained and needs to be translated into real economic performance," Mr Derbyshire said.

"Everybody knows that, whatever the outcome of the election, we are going to see big cuts in public expenditure … There is a danger that next year could be another tough year for many people."

The CBI also echoed these sentiments saying they thought the UK economy was likely to return to growth during the fourth quarter of 2009 but adding that they expected trading conditions to remain tough for businesses over the coming year.

Some areas of the UK are already showing positive signs of recovery with research showing a massive increase in corporate deals in the North East of England.

The value of deals in the region shot up from £375m in the third quarter to £986m in the last quarter of 2009, the full-year rise being from £1bn to £1.5bn said business data group Experian.

The North East was among only four regions to register an increase in deal values over the three month period, Scotland registering the biggest quarter-on-quarter leap, from £2.3bn to £25bn.

Let's hope that the current spell of bad weather that's sweeping the country does not have an adverse affect on this recovery!

© 2009 All rights reserved. Reproduction in whole or in part without permission is prohibited.
Image: Handbook of Positive Psychology by Ben Harris-Roxas

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