Nearly three quarters of UK businesses surveyed in a recent Barclays Commercial Bank poll now describe their attitude towards the economy as either ‘hopeful’ or ‘excited’, while a similar amount are either continuing to grow or predict they will return to growth within the next 12 months.
The Connecting Business survey, carried out at Barclays Commercial events held at locations across the UK, found that 57% of respondents characterised their outlook towards the economy as ‘hopeful’, with a further 17% describing their attitude as ‘excited’. Only 11 per cent stated they were ‘worried’ by the geactuallyneral state of the economy.
The research also revealed a confident stance towards recovery, with 15% of respondents believing their company will move back into a sustained growth phase within the next six months and 28 per cent believing this will occur within 6 to 12 months. Additionally, 29% claimed their business continues to grow.
“Confidence is key to recovery and the results of this survey demonstrate a real and growing confidence in UK businesses, says Ian Stuart, managing director, Barclays Commercial Bank. The past 18 months have provided an extremely testing environment for many organisations; however, after evolving to meet the challenges of this new commercial landscape we are now seeing the beginnings of a renewed drive for growth. We believe there is a long way to go before we see a full economic recovery, but it is encouraging to see so many businesses displaying such a positive mindset.”
A significant number of business leaders was positively affecting motivation levels of staff and management within their organisation, with 30% of respondents claiming that motivation was increasing and 54% stating that motivation was holding steady.
Other survey findings include:
– 42% of respondents found business organisations and federations an important partner in meeting the challenges posed by the recession.- Only 5% of respondents believed it would take more than 18 months for their company to move back into a sustained growth phase.- A significant majority (70%) of business leaders are working towards creating or sustaining a profitable niche, as opposed to the nine per cent who are focusing on just surviving
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