Most business leaders remain pessimistic about the prospects for growth in the UK economy over the next few months, according to new research today.
A survey of 220 chief executives and company directors showed more optimism about the chance of an upturn next year, with two thirds believing things will improve in 2010.
Miles Templeman, director general of the Institute of Directors (IoD), said: “It is heartening to hear that two thirds of executives are optimistic about growth prospects in 2010. They identified business services as the sector offering the greatest opportunity for work and therefore growth, with local and central government and the NHS as being the next three sources for business wins ahead of manufacturing.
“Just as the pessimism around the credit crunch resulted in a stagnant market, it is hoped that this new-found confidence will act as a catalyst to get business back on track in 2010.”
Cathy Wolfe, managing director of Croner, which helped the IoD with the research, added: “This year Croner’s help desk has seen a dramatic increase in the number of calls from companies seeking advice on redundancy procedures, tribunals and other claims.
“The research mirrors this, showing that well over half of companies have legal expenses insurance, while 35% have a retained solicitor. A further 18% have also taken the precaution of reviewing employment contracts to reduce the risk of legal challenges.”
