From Morningstar: 2024-10-07 05:50:00

UK firms are seeing a positive shift with a new government and tech boom, but uncertainties remain as US election approaches and tensions rise in the Middle East, says HSBC’s Stuart Tait. More than half of UK businesses are optimistic about growth, with 2/3 having growth ambitions and 22% aiming for at least 20% growth.

A recent HSBC report based on a survey of 1,583 UK business customers found that optimism is on the rise post-election. The upcoming budget, US election, and Middle East tensions are key concerns for businesses. Tech plays a vital role in growth ambitions, with 75% of firms prioritizing technology and 81% of tech businesses expecting growth.

While most sectors are optimistic, industries reliant on consumer spending, like hotels and retail, are more cautious due to rising costs. Although the number of companies planning to increase spending has decreased, those planning investments are focusing more on expansion and growth. The report suggests a shift in spending priorities towards growth despite current challenges.



Read more at Morningstar: UK Business Optimism Surges But Uncertainties…