UK businesses are heading into election year with confidence higher than ever, according to the yearly business confidence report from Regus, the global workplace provider. Based on the views of 3000 business owners and senior managers in the UK, the ninth edition of the Regus Business Confidence Index (BCI) - which is heavily based on actual performance over the last 12 months - reveals a 7 point rise from 117 points to 124. This is the highest total recorded since Regus launched its BCI report in 2009.
Announced to coincide with Chancellor of the Exchequer George Osborne’s Autumn Statement, the results paint a picture of positivity and growth as the UK gears up for the 2015 general election. The report reveals that 63% of UK businesses saw a rise in revenues in the past year, and 59% of UK businesses saw profits grow. For the UK’s small business community figures are similar, with revenues rising for 60% of such businesses and profits rising for 56%.
New ways of working are helping businesses to grow. Over a quarter of businesses (29%) increased their flexible working options for staff over the past twelve months.
Richard Morris, UK Managing Director at Regus, comments: “UK businesses do not seem concerned with 2015 election uncertainty – far from it. These are some of the most robust business confidence figures we’ve ever announced.
“Clearly, flexible ways of working – particularly in relation to the physical workspace - are playing a significant role in this success story. Companies are managing growth carefully, with many recognising that full-time, permanent office space with its associated long-term leasing is no longer the only option. Remaining agile helps business secure and retain top talent, and keeping overheads low is vital to sustainable business growth.”