“Business confidence rises significantly in Wales.”
The most recent Institute of Chartered Accountants in England & Wales (ICAEW) survey reports some positivity for the local business community in Wales. The survey covers a range of industries, sectors and company sizes to give a feel for the wider economic feeling across the UK.
The most recent survey ran to 20th September 2024 and perhaps reflects more relaxed attitudes after the uncertainty that naturally surrounds any general election.
Interestingly, the survey suggests confidence in costs reducing slightly and stronger profit growth expectations (vs last year) but businesses are still reportedly looking to reduce the rate of their capital investment and spend on things like research & development.
We’ll be looking out for the similar report for the North West when it is published later this month to see if there are any common themes. We’ll also be keeping a close eye on the wider impact on companies across the region, particularly those encountering financial distress.
As always, it’s so important to us here at Parkin S Booth to understand the bigger picture, so that we can provide the best advice to each business owner.