In partnership with Longitude Research, RSM Tenon have conducted their second quarterly survey which provides a regular snapshot of business confidence across the sector. In this issue we take a look at business growth strategies and examine how plans for growth will be financed.
Highlights
- We have seen a return in business confidence across the sector - 18% more respondents are feeling more positive about the outlook compared to the previous quarter
- Business growth is back on the agenda: 92% of business owners polled are planning for growth
- Refreshing existing products and services or launching new ones, are the two primary means of delivering growth
- But the majority (45%) of those firms polled disagreed that the Olympic Games would be a significant boost for their business
- Nearly half (47%) of businesses will need to tap into additional sources of finance in order to achieve their planned growth over the coming 2 years
Jonathan Perrin, RSM Tenon’s Head of Hospitality and Leisure, said: ‘It is great news that confidence in the sector is returning, despite the UK economy slipping back into recession. I suspect this might be because even though there is still a great deal of uncertainty about the economy, there is less panic in the sector then there was at the beginning of the year.
For a hard copy of the report please contact Ashleigh Halliday.
To download the first Hospitality & Leisure report, which looks at human resource challenges, please click here.