"The latest reading of BDO's Optimism Index, which surveyed over 4,000 executives, shows confidence has dropped to levels last seen during the early stages of the pandemic, with businesses across the services and manufacturing sectors citing persistent inflation, rising costs and weak demand as key factors. The findings come at a fragile moment for the UK, as companies face ongoing uncertainty around interest rates, labour shortages and subdued consumer spending."
"Investing in technology infrastructure, including in data and AI, can create a strong foundation for businesses. When approached with the right strategy this can drive efficiency and ROI in important growth areas, provide real-time and future-looking insights to determine opportunities and threats, and a myriad of other benefits, which all work to strengthen long-term resilience in the face of wavering market confidence."
UK business confidence has fallen to its lowest level in almost five years, with the BDO Optimism Index showing a sharp drop in sentiment among surveyed executives. Confidence has returned to levels seen during the early pandemic, driven by persistent inflation, rising costs and weak demand across services and manufacturing. Firms face ongoing uncertainty around interest rates, labour shortages and subdued consumer spending, while cost pressures remain elevated and erode margins. Businesses report difficulty planning long-term due to rising costs and regulatory pressures. Greater digitisation and investment in technology infrastructure, data and AI are recommended to improve efficiency, insights and long-term resilience.
Read at London Business News | Londonlovesbusiness.com
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