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UK business confidence at four-year high

UK business confidence has risen to a four-year high according to accountants BDO although there are concerns that this may be short lived unless significant investment is made into the private sector. It seems that many companies who de-stocked during the recession are now looking to replenish their reserves, which has seen an increase in business activity and business confidence. However, without further investment into the private sector this new confidence could be short lived!

It is no secret that UK banks are still reluctant to lend significant amounts of money to small, medium and large sized businesses where perhaps there is some financial concern in the short term. Many of these companies only need short-term capital to see them through the tough times but so far the vast majority have been left wanting. This will need to change in the short term if the increase in business confidence and business productivity is set to continue, with the government needing to play a bigger role in encouraging bank lending.

While the next four weeks will be dominated by the election we should see more clarity regarding future taxes and future government spending in the days and weeks after the election. However, there is a need for the next government to literally "hit the ground running" because many businesses are struggling and in need of immediate assistance.

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