50% of companies are positive or very positive about their own performance in the UK and this continues to translate into higher investment and future employment.
However, the overall development of the UK economy is viewed more cautiously, as only 23% expect it to perform better or significantly better over the coming 12 months. In other words, the ‘cooling’ of the UK economy is expected to continue.
As in the past, logistical problems continue to be one of the largest challenges. For the first time, rising energy and raw material costs are listed as key challenges, demonstrating the economic impact of the war in Ukraine (more than half [56%] already feel an impact) and the ongoing global supply chain issues.
At the moment, companies do not view the climate change mitigating policies in the UK as very effective (fewer than 5% do). However, despite the perceived current insufficient efforts, more is expected to happen in future to address the climate challenges, with the highest potential seen in the fields of renewable energy production, energy efficiency, and hydrogen technologies.
