Business optimism on the rise

Hang out the bunting and bring on the celebrations as UK businesses inspire the most universal optimism in 20 years

Business optimism on the rise

In an inescapably fragile global economy, positive news can be an elusive mistress, with gleeful projections and hopeful outlooks few and far between. But amongst woeful reports of future spending cuts, and the seemingly tragic trajectory of unemployment figures, faith and confidence in the UK business market appears to have gone undaunted; with the promise of growth and future development at a twenty-year high.

According to key surveys of over 1,500 companies, conducted by leading financial names such as Lloyds, Deloitte and the Bank of England, corporations of all sectors and sizes are growing more confident about their prospects for the upcoming year. This period of economic assurance, the highest since 1994, is founded in a capacity for increased sales, brought about by exportation of goods to a more stable European and worldwide market as well as emerging markets around the globe. 

Measured by forecasted orders, sales and profits, all of which are predicted to rise in the next twelve months, this period of expected buoyancy is also to extend to the workplace; 2014 is set to see a continuation of the reduction in unemployment figures, as more firms express optimism at their ability to create jobs this year. 

Leading figures within the financial sector have come out in support of these latest findings, with the Bank of England’s director Mark Carney continuing to inspire an upbeat outlook via his policies. 

Meanwhile, managing director of Lloyds, Tim Hinton, explained: “Businesses are exporting more, in particular to the Asia-Pacific region, but they now also feel more bullish about exporting to Europe since its exit from recession.”

Cautiously encouraging words and a promising start to the new year. Let’s hope our entrepreneurs are still smiling come 2015. 

Amy-Louise Roberts
Amy-Louise Roberts

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