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UK businesses pessimistic about their future after lockdown

A new poll has shown that business leaders are pessimistic about the future of their firms well beyond the current lockdown period. The survey by the… View Article

GENERAL MERCHANDISE

UK businesses pessimistic about their future after lockdown

A new poll has shown that business leaders are pessimistic about the future of their firms well beyond the current lockdown period.

The survey by the Institute of Directors questioned over a thousand directors about their organisations’ prospects over the coming 12 months and the result showed a net balance of -22%.

The IoD said the figures should encourage the government to publish information on the different stages that the UK would go through when re-opening the economy.

Jon Geldart, director general of the IoD, explained: “Over the last few days the clamour from our members for information on how, and when, coronavirus-related restrictions will begin to lift has increased substantially. Directors from all parts of the UK need to make plans for riding out this tempest, but they can’t get very far if they have no idea what will be happening in a few weeks’ time.”

Meanwhile, the results show that business leaders’ net confidence in the economy overall has shrunk to -69%, which is the lowest level ever recorded by the tracking survey.

Geldart added: “It’s in everyone’s interests to get the economy off life support when it’s safe to do so. Business leaders know this will not happen all in one go, but that’s why it’s even more important to tell them what they need to prepare for.”

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