Business confidence boosted by plans to re-open UK economy

08 Apr 2021

A survey carried out by the Institute of Directors (IoD) has revealed that confidence amongst UK businesses has been boosted by plans to re-open the UK economy.

The IoD's latest confidence tracker found that business leaders' net optimism in the outlook for their organisations rose from +36 to +41. From 12 April, non-essential businesses, personal care businesses, indoor leisure facilities and gyms, amongst other firms, are permitted to re-open following the latest lockdown in England. Different rules apply in Scotland, Wales and Northern Ireland.

62% of company directors polled said the recent Budget had helped improve prospects for economic recovery.

However, the survey also found that adjusting to new trading terms with the EU is having a negative impact on business.

Commenting on the survey, Tej Parikh, Chief Economist at the IoD, said: 'The roadmap to re-open the economy, the successful vaccine rollout and the Budget have all buoyed directors' confidence in the first quarter.

'Extensions to furlough and other reliefs in the Budget have staved off fears of an impending cliff edge in support measures. As the roadmap progresses, firms can now rescale over the spring and summer months with the cushion of the government's economic package still beneath them.'

Contact us

Please get in touch with us today by phone, email or enquiry form to arrange your free initial consultation and see how we can help you and your business.

Get in touch »

Client Portal

We can provide you with an online reporting portal that gives you real-time information about your business wherever you are and whenever you need it.

Log in »

Our Newsletter

Why not register to receive our Monthly Newswire? Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Register »


Finance Monthly Global Awards 2020 Winner
CorporateLiveWire London & South East Prestige Awards 2020/21 Winner

IFA
ABTA
Quickbooks Intuit
Copyright

© 2021 Swenta. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Swenta is a limited liability company registered in England and Wales under no. 08343019.
Registered Address as shown.

Contact Us

Please call:
07584092952
02074341143

Addresses
Swenta, Suite 434, The Linen Hall, 162-168 Regent Street, London W1B 5TB
Swenta UAE, Suite 2207, Burlington Tower, Business Bay, Dubai, United Arab Emirates
Swenta Pakistan, Office No.1114, 11th Floor, ISE Tower, Jinnah Avenue, Blue Area, Islamabad, Pakistan