Is your business confidence increasing?

By Matthew Thompson | 4th February 2014 | 1 min read

UK business confidence has hit a record high after increasing for six quarters in a row, according to research by the ICAEW (Institute of Chartered Accountants in England and Wales).

The report shows that the UK economic recovery has a strong foothold, with 85% of businesses who took part in the survey saying they have plans to develop their business in the next year, with 30% expecting to increase the size of their workforce.

The ICAEW’s Business Confidence Monitor rose to 37.2 points in quarter 1 of 2014, increasing from 31.7 in quarter 4 of 2013. The report went on to forecast a 1.5% growth in the UK economy in the first quarter of this year.

The report did however, highlight a number of obstacles that small businesses have to overcome including money, time and expertise. 36% of respondents highlighted time as a major factor in achieving growth with 26% listing lack of money and expertise.

If lack of time is an issue within your business, why not look at utilising our expertise by outsourcing your payroll? The IRIS Managed Payroll Service can handle as much or as little of your payroll as you need, giving you time to focus on other aspects of your business. Our team live and breath payroll, so you can rest assured that your payroll will be handled by experts.

Contact us today to see how the IRIS Managed Payroll Service could help your business.