Business confidence in Britain has hit a two-year high, new research has indicated. The Lloyds TSB Business in Britain survey found that 21 per cent of firms are now expecting an upturn in sales over the next six months - up from just one per cent half a year ago.The overall confidence index rose to 16 per cent - a significant increase on the record low of -32 per cent at this point in 2008.
Commenting on the statistics, George Derbyshire, chief executive of NFEA, the national enterprise network, said it was "great" to see there is much more optimism around. And he suggested that many business owners believed the recession could have been far worse for them than it actually has. He feels that businesses have been cushioned from the effects seen in previous recessions because interest rates have remained extraordinarily low and the weakness of the pound has helped people who are exporting.
He also noted that a "responsible view to employment" has benefited both companies and employees - with flexible working practices preventing firms from being forced to make redundancies. A point APA thoroughly endorses.
Latest figures published by the Office for National Statistics showed that the unemployment rate was 7.9 per cent for the three months to August 2009, up 0.3 per cent on the previous quarter and 2.1 over the year. So there is still some way to go but a little more hope for a happy new year.
Gareth, APA.
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