Is your business more confident?

Posted: Tuesday, 7 July 2009 @ 11:11

Today's British Chamber of Commerce figures suggest that British business is over the worst of the recession.  Let's hope they've got that right.

The survey data from 5,600 companies shows progress in both the manufacturing and service sectors with most key indicators improving in the last quarter.

Looking more closely at the data however I wonder how much of this is just trying to talk ourselves out of the problem.  Not that I am against that - afterall some businesses I think certainly talking themselves into one!

In their press release the BCC say: "The most encouraging feature of the Q2 results is a marked strengthening in confidence following sharp declines over the previous two quarters. Turnover confidence has now entered positive territory for the first time since Q3 last year and it has improved dramatically for manufacturing firms, rising 40 points from -38 in Q1 to +2 in Q2. "

So it's all about confidence and the BCC is calling for the Government to nurture that confidence by carefully reviewing it's policies on taxation and red tape.  Certainly, as we've commented before (Less red tape head?) , the amount of red tape in some industry sectors makes profitable business almost impossible, so we welcome anything that will make things easier for the struggling owner manager.

Let's see how the Government react to the BCCs call for support - and let's hope they are right in claiming that the worst of the recession is well and truly over.

Gary Cousins
Business Solicitor

Blog by Gary Cousins
Gary has been providing legal advice to shareholders, directors and business owners for over 25 years. Specialising in dispute resolution Gary is based in Birmingham with clients throughout the UK and overseas. View profile
Call Gary on +44 (0)121 778 3212 or by email
This blog is not intended to constitute legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it. You should always seek legal advice to confirm whether or how any information in this article applies to your particular situation. We offer a free telephone consultation to discuss your particular circumstances.

Comments

  • There are no comments for this page - click here to be the first

Need legal advice for your business? We can help

Directors

Directors
Practical advice and legal support for company owners and directors.

Disputes

Disputes
In dispute with a customer or supplier? Get practical advice and support.

Your legal advisor

Your legal advisor
Board level legal advice without the costs of an in-house lawyer.

Speak to a lawyer

Speak to a lawyer
Cousins Business Law excels at demystifying potentially complex legal areas for small business owners
Simon Moore, MD Moore News Ltd

Get legal updates

Enter your email address to receive our monthly Blog Newsletter

Get the FREE definitive guide to solving business disputes

Speak to a lawyer

Get legal updates

Enter your email address to receive our monthly Blog Newsletter
The Law Society
Top