Grant Thornton UK tracker shows optimism in businesses despite challenges

Grant Thornton UK’s Business Outlook Tracker shows steady optimism among business leaders despite challenges like high costs and upcoming tax pressures. 81% of mid-market businesses are optimistic about the UK economy. Despite labor market fluctuations, 43% of businesses plan to increase recruitment investment. 67% of mid-market businesses have reduced hiring due to increased costs.

Government policy is generally seen as supportive, with 71% believing it promotes economic stability. However, 75% expect business taxes to rise before the end of the year. Mid-market businesses have positive revenue and profit growth expectations, while large corporates show decreased confidence. Trump administration viewed positively by 74% of mid-market respondents.

Grant Thornton UK’s managing director highlights the need for businesses to navigate uncertainty and high costs. Despite challenges, UK businesses are resilient and optimistic. While positive about government support, there is an expectation of further tax increases. Businesses remain positive but face obstacles like high operating costs and impending tax pressures.

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