London-based business owners are increasingly confident about their future prospects as the economic recovery continues, it has been reported. The latest Confederation of British Industry/ KPMG London Business Survey found that 54 per cent of companies are optimistic about the coming six months, while just 12 per cent are pessimistic.
As such, 68 per cent are looking to expand over the next six months, compared to 58 per cent when questioned earlier this year. Some 84 per cent of respondents said they were benefitting from trading in the capital, the highest figure recorded by the survey since September 2008. The wide skills base and talent pool are viewed as being London's most attractive business strengths, cited by 69 per cent of companies. Access to markets was found to be the second most attractive strength, named by 67 per cent of respondents, up from 45 per cent six months ago.
KPMG said it was "encouraging" that after two difficult years for businesses in the capital, optimism levels are starting to return. Businesses are getting back on track with expansion plans now on the agenda. London has an amazingly robust business community who will be instrumental in getting the UK economy moving and putting us back at the top of the global competitiveness table.
Gareth Osborne of APA said: “It is obvious from the London focus of this report that the rest of the country does not yet feel as confident. If the Bank of England holds firm I am reasonably optimistic that business expansion will return in 2011. I am not as confident that the fortunes of the workforce or the unemployed will improve for some time to come.”
As such, 68 per cent are looking to expand over the next six months, compared to 58 per cent when questioned earlier this year. Some 84 per cent of respondents said they were benefitting from trading in the capital, the highest figure recorded by the survey since September 2008. The wide skills base and talent pool are viewed as being London's most attractive business strengths, cited by 69 per cent of companies. Access to markets was found to be the second most attractive strength, named by 67 per cent of respondents, up from 45 per cent six months ago.
KPMG said it was "encouraging" that after two difficult years for businesses in the capital, optimism levels are starting to return. Businesses are getting back on track with expansion plans now on the agenda. London has an amazingly robust business community who will be instrumental in getting the UK economy moving and putting us back at the top of the global competitiveness table.
Gareth Osborne of APA said: “It is obvious from the London focus of this report that the rest of the country does not yet feel as confident. If the Bank of England holds firm I am reasonably optimistic that business expansion will return in 2011. I am not as confident that the fortunes of the workforce or the unemployed will improve for some time to come.”
Gareth, APA
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