In September and October, research carried out by the UK200Group asked businesses from across the UK to share their outlook for the next 12 months, as well as how they have fared in the past 12-months. The results reveal that 66% of businesses have a negative or ‘as normal’ outlook for the future. This compares to 52% of business asked the same question in 2021.
Looking back over the last 12-months, 42% of businesses performed better than the previous 12-months, 19% had a worse period, leaving 39% of businesses saying things
were about the same as normal.
Respondents were asked what one word they would use to describe their outlook for the next 12 months and the words uncertain, challenging, and cautious headed the
list.
Respondents were also asked what one word they would use to describe their biggest concern for the next 12 months. Not surprisingly ‘inflation’ & ‘costs’ headed the list. Closely
followed by ‘economy’ and ‘uncertainty’.
This research shows that growing uncertainty due to factors including the economy, inflation, the war in Ukraine and the cost-of-living crisis, are directly affecting business
confidence.
However, it’s not all doom and gloom. There are positive signs with many businesses having just had a better 12-months than they expected. Robson Laidler business advisor Jack Spoor said: “Now more than ever is a time for businesses to ensure they have their ‘house in order’. Businesses need to focus on getting the basics right. Make sure you are up to date with your tax and other financial affairs, have control of your cashflow and finances, and review your supplier and customer contracts in order to gain clarity on where your business is heading.”
You can see a full copy of the tracker outlook results on the infographic below:
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The landscape is ever changing. As ever, we are here to support you.
If you would like to chat about how you are faring and help to plan for the future, please do get in touch with our business accelerator team.