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16/12/2009
Business confidence increases |
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The use of business lawyers may be set to increase as a poll of firms has shown that levels of confidence are rising.
A survey of over 1,700 companies by Lloyds TSB found that expectations for sales, orders and profits have improved, while it is expected that the recovery will gather pace as 2010 unfolds.
The Confidence Index now stands at +16, the bank said, compared with -3 in June and -32 a year ago.
In addition to this, the balance of expectations for sales now has 21 per cent more respondents expecting these to increase than to fall, compared to a positive figure of only one per cent six months ago.
And the balance of companies expecting better profits was in positive territory for the first time in 18 months.
The retail sector may have particular reason for optimism as it is expected to enjoy a very good Christmas, according to Richard Perks of Mintel.
He stated: "The thing is people are actually better off at the moment than they were this time last year, because of the lower interest."
Written by Pauline Adams
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