In a world that seems to be regularly turned upside down by political and policy changes, it would be unsurprising to find that companies were feeling the strain. Yet 71% of businesses report that they are confident or very confident about their ability to grow and prosper.
With forecasting becoming increasingly difficult and order books never extending beyond six months, nimble is the new normal.
When asked to look ahead six months to Autumn 2017 confidence dials back slightly, with only 61% of businesses reporting the same high confidence levels, however 85% of businesses believe the risk environment will have stayed the same or improved, showing all is not doom and gloom.
The three biggest concerns causing company confidence to dip are economic, political and technology risk. In order to counteract these issues the path to growth in these troubled times is to focus on;
- Seeking new markets: With concerns about the changing regulatory landscape and access to funding businesses should be looking to exploit new markets.
- Cutting back on traditional hiring: Post Brexit, companies may need to cast their net wider in order to attract the best talent, whilst leveraging the ‘gig economy’ to fill the talent gap.
- New technology and R&D investment: 81% of businesses are actively pursuing investment in R&D including technology related products, services or processes. With technology progressing at a rapid pace it can boost operational efficiency and innovation.
These findings come from our Risk and Confidence Survey, for more insights download your copy here www.cnahardy.com/pulse.