UK businesses are confident about the year ahead despite recent volatility - Alium

 
Madeline Ratcliffe
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UK businesses said growth is a worry but they are confident on the economy (Source: Getty)

Despite a rocky third quarter, which has been the worst for the financial markets since 2011, 91 per cent of UK businesses have confidence in the country’s economic performance over the coming year.

Many FTSE companies said that growth, even more than the recurring skills-shortage, was a worry, but 51 per cent said they were more confident than last year, according to new data from interim management providers, Alium.

It has been a bumper year for British businesses, as global M&A reaches pre-recession levels, and private equity markets are booming too, with UK companies getting the most attention.

Nigel Green, founder and chief executive of financial adviser deVere, was not one of those filled with optimism.

Yesterday he warned that: “Far-reaching geopolitical events and underwhelming economic data suggest that the rally could be temporary and that investors need to brace for them. We should not expect this rally to last. October is likely to be characterised by volatility.”

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