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UK's lack of confidence is only for the short term
Page 51
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BRITISH COMPANIES are still anticipating future growth and investment despite a lack of short-term confidence in their markets, according to the Regional Development Agencies National Business Survey.
Of 5,000 participants across all sectors, the hospitality, construction and distribution sectors are the least confident, joining other sectors in expecting slower growth in workforces and rising costs. However, 9% of respondents still planned forward capital investment, 13% were increasing training investment and 14% intended to spend more on product and process development.
Transport and energy were listed as the two most pressing costs by 80% of the companies involved, and 45% said
they have raised prices to recoup their increased expenditure. However, this limits the scope for further price increases and the Regional Development Agencies say this will put profits under intense pressure over the next 12 months as costs continue to rise and order books suffer.