Justin Kyriakou’s Post

Business confidence in Yorkshire & Humberside rises into positive territory. ICAEW Business Confidence Monitor (BCM):  released its Q3 Yorkshire & Humber report today (26th October 2023) here are some of the key highlights for our region: The Business Confidence Index for Yorkshire & Humberside climbed into positive territory in Q3 2023, but only just. Standing at +3.2, it is slightly ahead of the UK average, but sits below the historical norm for the region, suggesting that sentiment is still fragile. Weak sentiment is reflected in annual domestic sales and exports growth. Both are rising more slowly in Yorkshire & Humberside than in most other regions and nations. Expectations for domestic sales growth are lower than elsewhere in the UK and, while businesses anticipate a pickup in export performance, prospects lag the UK average. Customer demand is the most widely cited issue facing businesses in the region, and has become more widespread since Q2 2023, along with bank charges. Regulatory requirements are a less prevalent growing concern than in the previous quarter but remain significant. Annual input price inflation has eased but remains high. It is expected to continue to slow in the year ahead to the lowest rate across the UK. Salary growth has largely stabilised, but it is weaker than elsewhere, and it is expected to soften in the year ahead. As input price inflation eases and businesses continue raising their selling prices, profit growth is expected to improve in the coming year but will remain weaker than elsewhere in the UK. Businesses plan to continue raising capital investment at the same rate in the coming year, broadly in line with their expectations for R&D budgets.   The latest national Business Confidence Monitor (BCM) for Q3 2023 shows a small decline in business confidence in the quarter overall compared with Q2, although sentiment did rise during the quarter, possibly due to a growing likelihood that interest rates might be at, or close to, their peak. Confidence remains below its pre-pandemic average.   For the full regional report visit https://lnkd.in/eJyJZhKN The survey results are based on 1,000 telephone interviews among ICAEW Chartered Accountants covering a range of UK sectors, regions and company sizes, ensuring a representative picture of the UK economy. The latest quarterly findings are based on the period 26 June to 22 September 2023.

UK business growth increased to a six-month high this month and boosted hopes that the economy will dodge a recession, according to the closely followed S&P Global/CIPS flash UK purchasing managers’ index, which reported a reading of 51.7 for December, up from 50.7 in November. Any reading above 50 indicates the sector is growing. https://bit.ly/3Trvrpj #ReedAccountancy #finance #economy #business #PMI

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. A survival guide for SMEs in the face of inflation. Inflation is a challenge for all businesses, but the sting is especially painful for SMEs. With limited resources, they can find themselves struggling to absorb costs associated with inflation, potentially leading them down the path of price increases and lost customers. This leaves SMEs struggling with the eternal question: pass on increasing costs to customers, or continue to absorb as much of it as possible?

The latest national Business Confidence Monitor index (BCM) for Q1 2024 is out and showing significant improvement in sentiment compared to the previous quarter and the overall average for 2023. 🚀 Carried out by the ICAEW, the index is based on personal calls with accountants across a range of markets, regions, and company sizes in the UK. For the first time since Q1 2022, the index rose above its pre-pandemic average. Read the whole story here: https://lnkd.in/eJeia6PB #accountancy #accountancyandfinance #icaew #recruitment #financerecruitment #financeinsights

ICAEW has published its Q2 Business Confidence Monitor, showing a further small increase in business confidence. However, it’s clear that some businesses are struggling to bounce back with confidence remaining below pre-pandemic levels due to concerns around continued economic challenges including inflation and rising interest rates: https://hubs.li/Q01ZDyNP0 Stenn supports businesses engaged in international trade, e-commerce and digital services with working capital solutions, allowing them to speed up their recovery and growth - visit our website to learn more. #icaew #ukbusiness #workingcapital #fintech #inflation #trade #economy #finance

UK business growth increased to a six-month high this month and boosted hopes that the economy will dodge a recession, according to the closely followed S&P Global/CIPS flash UK purchasing managers’ index, which reported a reading of 51.7 for December, up from 50.7 in November. Any reading above 50 indicates the sector is growing. https://bit.ly/3Trvrpj #ReedAccountancy #finance #economy #business #PMI

UK business growth increased to a six-month high this month and boosted hopes that the economy will dodge a recession, according to the closely followed S&P Global/CIPS flash UK purchasing managers’ index, which reported a reading of 51.7 for December, up from 50.7 in November. Any reading above 50 indicates the sector is growing. https://bit.ly/3Trvrpj #ReedAccountancy #finance #economy #business #PMI

UK business growth increased to a six-month high this month and boosted hopes that the economy will dodge a recession, according to the closely followed S&P Global/CIPS flash UK purchasing managers’ index, which reported a reading of 51.7 for December, up from 50.7 in November. Any reading above 50 indicates the sector is growing. https://bit.ly/3Trvrpj #ReedAccountancy #finance #economy #business #PMI

Good to hear