Business Confidence Grows

Monday, June 26, 2017

The Lloyds Bank Business in Britain report suggests that expected sales, orders and profits have risen by 24% since the Brexit referendum of 2016.

That means business confidence is rising as companies adjust to the expectations of the UK's withdrawal from the EU. However, the shortage of skilled workers in all sectors mean that companies are struggling to reach recruitment targets and fill vital roles within their workforce.

Whilst unemployment remains at a record low, employers are seeing upward pressure on wages and a decrease in worker mobility meaning that companies are looking outside the UK to satisfy their staffing needs. With the uncertainty of the Brexit negotiations dominating the horizon, it is difficult to see how GDP can continue to grow without caving in to inflationary measures.