If the UK economy were a business it would be on the ropes, with the banking sector pinpointed as the main cause of financial distress, say analysts.
Contrary to what many people might assume, accountants are not benefiting from the recession, according to the profession’s annual statistical healthcheck from Key Note Reports.
Public sector work may be drying up but jobs in the accountancy sector are on the increase, according to the latest raft of figures released this week.
Businesses are cautious about their profit outlook for the next 12 months, with the majority expecting an increase in costs but very few expecting to recoup these through higher prices.
Many firms are operating under ‘survive or thrive’ conditions and are looking to make large scale changes – but too many are forgetting their most important transition tool – their people.
Gordon Perchthold and Jenny Sutton outline how to extract more value from consultants by managing the relationship more effectively.
Personal insolvency levels fell 3% in the last quarter and bankruptcies were down 21% year on year, but the economy isn’t out of the woods yet said RSM Tenon ahead of the release of the officia
Businesses are facing a skills shortage following recessionary job cuts, while the staff left behind are struggling to cope with the increased responsibilities.
Over 127,000 UK businesses are in financial distress, with £69.5bn of liabilities at risk of default.
The UK could be heading for a double dip recession if the latest economic data and CFO confidence monitors are to be believed.