Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Slide 1
Transcript
UK BUSINESS CONFIDENCE MONITOR REPORT Q1 2011 Contents About BCM The key findings: business confidence; business financial performance; factors affecting performance; trends ICAEW and public policy About ICAEW BUSINESS WITH CONFIDENCE icaew.com About BCM BUSINESS WITH CONFIDENCE icaew.com About BCM • BCM is one of the largest and most comprehensive quarterly reviews of UK business confidence • It provides a regular snapshot of the economy, informed by senior business professionals running all types of businesses across the UK • The report is shared with a range of policy-makers, the business community, academics and researchers • It is a credible predictor of GDP and economic change and supports policy and decision making. BUSINESS WITH CONFIDENCE icaew.com The key findings … BUSINESS WITH CONFIDENCE icaew.com Despite the disappointing GDP figures for the last quarter of 2010, the BCM is still above the pre-recession average, indicating that there will be a degree of limited growth in 2011. Michael Izza Chief Executive BUSINESS WITH CONFIDENCE icaew.com Trend of Business Confidence UK and regions Base: All BUSINESS WITH CONFIDENCE icaew.com Business confidence • ONS figures show that GDP fell at the end of 2010 • Double-dip recession is not expected • Growth in Q1 may be stronger • There are still a number of risks to financial growth. BUSINESS WITH CONFIDENCE icaew.com Business financial performance • Annual growth rates are highest since the end of 2008 • Export growth continues to strengthen • Businesses have rebuilt stock levels following the downturn • The rise in input prices is the highest since Q1 2009 • Predicted employment growth is unchanged. BUSINESS WITH CONFIDENCE icaew.com Factors affecting performance • More needs to be done to support private enterprise • Factors increasingly seen as a greater challenge to performance include: – The tax burden – Government support for business – Customer demand – Regulatory requirements BUSINESS WITH CONFIDENCE icaew.com Trends in business confidence • Confidence continues to vary across sectors, mostly without notable change • However, confidence in the construction sector has collapsed • Confidence is significantly weaker than last year in most regions • Listed companies continue to record higher confidence than private ones. BUSINESS WITH CONFIDENCE icaew.com ICAEW and public policy … BUSINESS WITH CONFIDENCE icaew.com How ICAEW has been influencing public policy • Budget submission letter to the Chancellor • Events and meetings at the UK Party Conferences • Submission for the G20 meeting in Seoul • Written and oral evidence submissions to the House of Lords inquiry into competition and choice in the audit market. BUSINESS WITH CONFIDENCE icaew.com About ICAEW … BUSINESS WITH CONFIDENCE icaew.com ICAEW is a world leader of the accountancy and finance profession … BUSINESS WITH CONFIDENCE icaew.com Getting in contact … Please insert your contact details… BUSINESS WITH CONFIDENCE icaew.com
