London’s business community remains surprisingly upbeat about the city’s economy and outlook for the next 12 months, according to a survey of professionals by Santander.
The poll found that just 9% of local business people are pessimistic about London’s economy; in contrast, almost half feel that despite Brexit, London’s economy is unchanged and 45% are optimistic, including 13% who are ‘very’ optimistic. Just 16% believe the outlook for business will worsen over the next 12 months and the majority are hopeful about prospects for local employment.
The research of local business sentiment was conducted to support Santander’s Breakthrough Red Box week-long business event to showcase support for business in London.
The sixth annual ‘risk barometer’ issued by insurer Allianz also finds that cyber risk has risen to become one of the top three corporate concerns globally.
Andrew Haldane said that the Bank of England’s forecast of a resulting sharp economic slowdown had proved highly inaccurate.
The composite purchasing managers’ index (PMI) issued by IHS Markit last month showed its strongest performance since summer 2011.
The year ahead will be one of the most difficult for business' strategic decision making since the end of the Cold War, warns Control Risks.