Survey shows rise in confidence among London’s businesses

The London Chamber of Commerce and Industry (LCCI) has released a survey showing that London’s businesses are expecting a better outlook for their companies.

The research, which surveyed 500 businesses, demonstrated that respondents are feeling positive about their turnover and that confidence rose in the first quarter of the year.

Confident

According to the survey, businesses in London were found to be feeling confident about their turnover, with a net 15 per cent expecting the performance of their company to improve. This is up by 7 per cent from the last quarter.

Companies are also still planning to boost their headcount, with 3 per cent expecting to take on new staff over the next three months.

In addition, the research identified the challenges that businesses are facing: over 45 per cent of those who are looking to increase their headcount are reporting difficulties in finding people that have the right skills.

Improvement

LCCI Chief Executive Colin Stanbridge stated that there are many signs of improvement, but he believes that not all of the indicators are upbeat.

“We need to ensure that London is well equipped to meet the challenges of Brexit and a population that is set to meet 10 million by 2030,” he said.