16/12/2009 - Firms hopeful of what 2010 brings
Companies throughout the UK are hopeful of a revival in their fortunes next year, a new report has said.
For more than at any time in the past two years, firms were more confident about their prospects, a survey of 1,700 companies by Lloyds TSB showed. Businesses expect improved profits over the next few months, after expectations for sales and orders started to recover.
However, one in four firms will have to make cuts, despite the brighter outlook, as companies are still wary about investing.
John Maltby, managing director of Lloyds TSB Commercial, said: "There are still many question marks over the likely strength and shape of the recovery, but confidence is the bedrock of every economy, and with businesses now more optimistic about their prospects for the year ahead, there is good reason to be hopeful that the upturn will gather pace early in 2010.
"That's not to say that it will be a smooth ride. Businesses may be more upbeat overall but they are still wary about the future, having experienced such a turbulent time over the past year.
"The next six months will be critical, and the path to recovery will depend on businesses' approach to investing, recruiting and exploring new markets."
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