UK business turnover confidence rises as investment remains low

According to the latest British Chambers of Commerce (BCC) Quarterly Economic Survey, UK business confidence regarding turnover is showing signs of improvement, though investment intentions remain stagnant. Approximately 47% of surveyed firms expect their turnover to increase over the next 12 months, up from 44% in the second quarter.

Despite this growth in turnover confidence, investment plans remain at post-pandemic lows. Only 17% of businesses intend to increase investment in the next three months, a figure unchanged from the previous quarter.

Inflation and taxation continue to be the primary concerns for UK enterprises, cited by 60% and 52% of respondents, respectively. The survey also highlighted economic imbalances, noting that while large companies show improvement, micro-businesses are facing declining sales and cash flow. The hospitality sector remains under significant pressure, with only 39% of firms expecting increased turnover.