Friday, 31 January 2014

What Makes UK Bosses So Confident?

With a new report released this week showing statistical evidence that UK bosses are among the most confident in the world, RTA Business asks just why UK bosses are so confident and what does this tell us about the British economy right now?

The BBC this week featured an article titled ‘UK bosses are among the ‘most confident’ in the world’ and they have the data to back it up. PricewaterhouseCoopers (PwC) has conducted the research that backed it up.

The company found that 93% of company heads were confident about their company’s financial capabilities in the next fiscal year. This is a rise of 15% form 2013, from 78% last year who felt the same way. This dramatic shift is the result of circumstance.

Furthermore the survey found that nearly two thirds of company bosses were planning to hire more staff. This is significantly higher than the number of bosses globally who said the same thing. This stood at 50%.  The only bosses who were more likely to hire new staff hailed from areas such as South Korea, Taiwan and the Middle East.

So this is telling evidence. Not only are bosses more confident in their ability to make money, they’re more confident about hiring new people, in other words expanding. So how can we explain this rising confidence?
There are sure to many theories floated by experts in the coming weeks over the survey data, however we believe that most of these theories will centre on the British economic recovery.

The sustained recovery of the British economy from the Great Recession is now seen by experts as close to fact. The housing market is finally itself in recovery, with house prices rising. Inflation has remained stable and last year the economy across the board grew by more than it has since the crisis hit in 2008.

However we believe the survey itself highlights another reason. The survey found that 82% of those surveyed said that advances in technology would have a difference on their company’s fortunes. It easy to see why; new technologies equal new products which equals more sales and greater growth.

At RTA Business this indicates to us that 2014 could be the time to start selling your business. This country’s economy is starting to grow again; people are starting to expand again. Now may just be the perfect chance to capitalise on that. 


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