Confidence among CEOs plummets

COMPANY bosses are suffering a crisis of confidence over the short future of UK business.

However, many believe there is light at the end of the tunnel with more optimism about recovery and growth over the next three years.

A PricewaterhouseCoopers survey found that business confidence has plummeted to its lowest level for more than five years.

Only 15% of UK chief executives are very confident about revenue growth in the next 12 months. However, similar to last year, more than a quarter are very confident about the prospects of revenue growth over the next three years.

Disruption to capital markets the downturn in major economies and over regulation are the most significant threats to business growth.

Nick Boden, North West senior partner at PricewaterhouseCoopers, said: “Nobody could have prepared for the events we have witnessed over the last few months.

“Many UK CEOs had no choice but to make tough decisions and redefine what success looks like for their businesses. The coming year will test the CEO’s belief that the ability to adapt to change is one of the most important sources of competitive advantage in sustaining long term growth.”