Brexit is causing companies in London to hire at a much slower rate, as employer confidence in the economy is deteriorating.
A recent survey by Lloyds Bank shows that confidence has fallen three points during the month of November to 34 per cent. Confidence in the economy has also fallen one point to 228 per cent, due to uncertainty over how the UK will fare after Britain finally leaves the European Union.
Just 35 per cent of businesses in the capital say they expect to hire staff in the coming year, a three point reduction on last month.
The rest of the country appears to be more optimistic, with business confidence increasing five points to 24 per cent and confidence in the economy climbing nine points to 17 per cent.
In this volatile economic climate, it is important for businesses to put measures in place to sustain this growth over the coming months and beyond.
In order to survive and thrive, business owners need accurate, reliable and timely financial information, whether that be profit or cash focused, or both, to accurately and effectively manage the company’s finances and drive growth.
Speak to our SME business specialists about how we can help to identify your requirements and then design and implement a system which will provide all the information you need, within a cost effective and efficient framework.
Contact Steve Govey or your usual Beavis Morgan Partner for further information about how we can assist you and your business.
Further reading:
SME Adviser Series: Recruiting the right people for your business