Business confidence reaching high

Date: 18th December 2009

Businesses believe the recession could have been far worse than it was, an enterprise expert has claimed.

George Derbyshire, chief executive of the national enterprise network NFEA, said that companies have been "cushioned" from the effects of this downturn.

The comments come in response to the publication of a new survey from Lloyd's TSB, which suggested that business confidence in the UK is at a two-year high.

According to the report, published earlier this week, an increasing number of firms believe their organisations will begin to trade profitably in the new year.

Mr Derbyshire commented: "A lot of employers have taken quite a responsible view to employment. We're seeing people taking wage freezes and in some cases wage cuts or reduced working hours.

"That has meant that the actual unemployment numbers, big though they are, are not perhaps as bad as some people had anticipated. Those are all quite positive influences on business confidence."