The latest annual UK Enterprise Survey Report 2008 from the Institute of Chartered Accountants in England and Wales says that UK businesses are planning for growth regardless of the economic downturn.
The survey reports that even though 65% of UK businesses say that the credit restrictions have had a negative effect on them, 83% say that business growth is still in their planning, with average annual growth expectations this year of 12.4%, compared with 13.4% last year.
72% of businesses say it is harder to plan, 64% say short term borrowing costs have increased and 53% say long term borrowing costs have also risen.
51% say the economic conditions have weakened competitors and 32% say it has increased their opportunities them to acquire their competitors.
53% think that the regulatory and taxation environment is not business friendly, particularly for small businesses and 38% say that will inhibit their future growth.
Considering the doom and gloom presented daily in the media, the positive attitude is remarkable and demonstrates remarkable resilience and fortitude.
Our UK Online Local Search Business Directory, which has 1.6 million businesses listed, is a major assistance, with qualified prospects being provided for the businesses, with nil cost for them.
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