Confidence jumps among business owners
UK business owners are expecting new growth this year, with profits rising and new investments back on the agenda.
In a new report by accountancy firm EY, it has been found that sixty per cent of businesses are looking to pursue mergers and acquisitions over the next twelve months. This is at its highest level since 2009 and shows improvement in business confidence.
Britain has now retained its place as the third most favourable destination for companies to invest, the report adds. Steve Ivermee, author of the report, insists investors are attracted to Britain’s assets, despite the “maelstrom of change” since the Brexit vote.
In response to a rising number of overseas takeovers, Britain has started buying more overseas, targeting American and European rivals in particular.
Some 63 per cent of businesses said they were moving operations overseas in response to “potential changes in trade policies”, Ivermee continues, this is a significantly higher figure than the global average of 41 per cent.
“The fallout and uncertainties of Brexit have an obvious influence, although they come in a broader global context of uncertainty and risks from global policy missteps,” the report concluded.
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