Business expansion highest since 2011, survey finds

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14th July 2015 10:27 - Business Support

A recent survey of financial chiefs by Deloitte has discovered that companies in Britain are going through the highest period of expansion that Business expansion highest since 2011, survey findsthe country has seen in four years, even in the wake of the Greek debt crisis, which has impacted the financial markets.

The group of accountants, Deloitte, has uncovered that at the top of Chief Financial Officers’ list of potential business risks was the chance of increased interest rates, which indicates that the economic recovery is gaining momentum.

The survey revealed that Chief Financial Officers were more hopeful than they were prior to the general election - which took place in May 2015.

Chief Financial Officers strategies for expansion increased to 41 per cent this year, which is the highest percentage in over 4 years.

As well as this, risk appetite inflated amongst the Chief Financial Officers, with 59 per cent claiming to be more inclined to take risks, as opposed to the reading of the previous quarter, which saw a two year low.

A Deloitte spokesperson said of the findings:

"The fears about political risk and policy uncertainty, which dampened corporate spirits in the run-up to the general election, have fallen away.

"Despite the intensifying crises in Greece, corporate risk appetite rose in the second quarter and CFOs have become markedly more enthusiastic about pursuing growth strategies.

"CFOs now rate interest rate rises in the UK and US, along with euro area weakness, as the two main risks to their business."

The survey – which was carried out in June 2015 – revealed that most Chief Financial Officers were in favour of renegotiation of the United Kingdom’s relationship with the EU on problems such as, immigration, welfare and competitiveness.

The survey also found that the Chief Financial Officers were more relaxed when asked about holding a referendum on Britain’s EU membership.

Almost 75 per cent of those who participated in the survey said that they were in favour of the UK staying within the EU, however, only 2 per cent supported Britain exiting Europe.

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