UK business leaders feeling confident, research shows

Research from the Institute of Directors (IoD) has found that business leaders in the UK have very confident expectations for their companies in 2018.

The study found that nearly half of business leaders were feeling quite optimistic or very optimistic about what 2018 will bring for their business.

Good

More than 45 per cent of business leaders were found to be feeling good about the future prospects of their business. However, respondents were found to be divided in their opinions over the wider outlook of the UK economy, with nearly half not feeling very confident about 2018. 

The study comes as the British Chambers of Commerce (BCC) and accountancy body the Institute of Chartered Accountants in England and Wales (ICAEW) has called for a trade deal with the EU to be made a main focus in 2018.

A separate study from the BCC of over 1,000 businesses revealed the top two export markets for businesses in the next three years, with these being Western and Eastern Europe.

Research from ICAEW also showed that a lack of skilled workers will continue to be a challenge for businesses in the New Year.

Progress

Commenting on the IoD’s research, IoD Director General Stephen Martin said: “Everyone wants to end the year on a positive note, and it is welcome to see that directors are cautiously optimistic for their own businesses. We have seen progress in recent weeks in the Brexit talks, and overall the economy has beaten the more negative predictions for 2017.”

He believes that the government should proceed with the priorities that were outlined in the Industrial Strategy in areas such as skills and transport.