Businesses still upbeat despite General Election jitters

Chris Papadopoullos
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Recent polls suggest the result of the election will be too close to call (Source: Getty)
UK businesses are brimming with confidence despite the upcoming General Election on 7 May.

An optimism index produced by accountants BDO maintained a robust score of 104.4 in January, according to data published today.

Although marginally down from December’s 104.9, the figure remains above the long-term average of 100.

The BDO indices for output and employment also remained at elevated levels despite edging down. The output index scored 102.9 for January, marginally down from December’s 103.3. The employment index – a measure of expected employment growth – registered 111.6 in January, down 113.8 but still far above its long-term trend.

Meanwhile, recent polls suggest the result of the election will be too close to call.

“Businesses are worried less about the detail of which candidate will get the keys to Number 10 and more about the country’s long-term economic prospects. And in the meantime they are focusing on their own businesses and keeping rightly positive,” said Peter Hemington, a partner at BDO.

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