Annual survey from consultants PWC shows that ninety percent of UK business leaders are positive about the prospects for growth in 2018 for their companies. This is despite the uncertainty that surrounds the economy coming from the potential impact of Brexit. It is optimism about the health of the global economy that is boosting confidence.
36% of business leaders surveyed said that they expect the global economy to strengthen in 2018. Interestingly this more than double the 17% who forecast an improvement during 2017 in the previous survey.
Confidence In Growth Prospects
Confidence among business leaders is even higher about growth prospects over the next three years, with 96% expecting their revenue to increase – higher than the global figure of 91%. This may reflect comfort in the prospect of a two year Brexit transition period, despite uncertainty over the outcome of trade negotiations.
Despite Brexit uncertainty, global CEOs identify the UK as the fourth most important country for their businesses’ growth, behind the US, China and Germany. For UK CEOs, the US remains the top overseas market, followed by Germany and China, a reminder that CEOs see opportunity beyond Europe.
Almost 200 UK executives were questioned as part of 21st annual CEO Survey at World Economic Forum. PwC conducted 1,293 interviews with CEOs in 85 countries, including 193 in the UK.
“Robust confidence levels among UK CEOs points to resilience in uncertain times, but this is tempered by a big dose of realism about the challenges ahead. Brexit uncertainty, regulation, availability of skills and cyber are key concerns but business leaders remain confident they can navigate through them.” Kevin Ellis, the chairman and senior partner of PwC
For further information about the survey please visit pwc.co.uk/ceosurvey