Businesses lose faith in government as confidence falls

The ICAEW and Grant Thornton have put out the results of its UK Business Confidence Monitor revealing increasing frustration at the lack of progress to make it easier to do business.

The monitor also shows a decline in confidence as both UK and global economic turmoil impact on businesses’ plans for the future.

Key findings for Q3 2011 show:

  • The BCM Confidence Index (CI) has fallen from +13.7 to +8.1 in Q3 2011 and is at its lowest level since Q3 2009 when the UK was still in recession
  • The positive trend for growth has faltered, with firms seeing turnover and profit growth weakening as well as revising down future expectations
  • An increasing number of businesses see tax and red tape as major challenges, with 40% believing regulation is a greater burden than 12 months ago
Add comment
Log in or register to post comments