Business Confidence “Stagnates” Amidst Brexit Pressure
Posted 15th January 2019 in News For Businesses
According to a new survey by the British Chambers of Commerce – the UK’s largest private sector survey of business sentiment – saw the percentage of firms reporting an increase in domestic sales fall to a two-year low.
The study of 6,000 UK firms, which together employ over a million people, also found that firms reported recruitment difficulties in manufacturing and the services sectors.
Commenting on the survey results, the Black Country Chamber of Commerce’s policy officer Dan Turner said, “Brexit uncertainty continues to dominate political discourse and headlines.
“In terms of business forecasts for profitability and turnover, 93 per cent of respondents suggest that turnover will increase or remain constant, whilst 91 per cent outline that profitability will increase or remain constant.”
After publishing the report, the BCC called on all political parties to avoid a “chaotic” exit from the EU, with director general Dr Adam Marshall stating, “The UK economy is in stasis. While it’s not contracting, it’s not growing robustly either.
“Throughout much of 2018, UK businesses were subjected to a barrage of political noise and drama, so it’s no surprise to see firms report muted domestic demand and investment.
“The Government must demonstrate it is ready to act to turbo-charge business confidence.”