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UK Contractors: Majority of businesses expect to grow within first half of 2015

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Limited company contractors might be interested to learn that a recent survey has revealed that UK businesses expect to grow in the first half of 2015. 

The latest Business Trends Report, carried out by BDO LLP, stated that ‘low inflation, falling costs, solid jobs growth and rise in real wages creates ‘confidence cocktail’ for businesses and consumers’.

According to the findings of the survey, this year is likely to see more employees create additional jobs due to their growing optimism.

The BDO Optimism Index also revealed that last month saw business confidence rise to a new quarterly high of 104.9 – which is well above the 100 mark indicating long term average.

Commenting on the findings, Peter Hemington, Partner, BDO LLP, said, “This is a great start to 2015. Optimism has increased, hiring expectations remain strong and inflationary pressures are down. In the short term, the Chancellor couldn’t have hoped for a better way to ring in the New Year. But there are clouds on the UK’s economic horizon.” 

“The Chancellor will be looking to the housing market to support growth. But if (as forecast by the Centre for Economics and Business Research last week) average UK house prices drop by 0.6 percent in 2015, consumer confidence could take a knock and spending could quickly be reined in. In these relatively good times, the Government needs to do everything it can to support business growth, encourage long term investment and end underemployment.” 

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