The glass isn't half full yet...but it's getting there!: Business Confidence Survey Results
The last year or so has been turbulent to say the least, and it’s only natural that confidence around business performance and the wider economic environment may have been affected. From our own conversations with hundreds of Facilities professionals over the past 6 months, it seems that this level of confidence ranges from apocalyptic pessimism to unwavering optimism, and in many cases it seems that personal mindset is the determining factor. Now, more than ever, it is easy to become stuck in your own narrative therefore we wanted to gather as many opinions as possible on the current and future state of business confidence across the UK.
At Maxwell Stephens we are hopeful for the future, with the introduction of COVID-19 vaccination programmes, high levels of public savings, and the potential easing of restrictions in the near future, we think there’s a number of arguments to suggest the glass is half full. It’s well know than consumer and business confidence can have a significant impact on financial performance and overall economic stability, and after surveying over 100 business leaders across the UK, we are thrilled to see that the outlook for short and long term future when compared to the past 12 months is generally optimistic…
How would you describe the current environment for your business?
Considering the tumultuous business environment of the past year, it’s to be expected that it has been tough for many organisations out there. Despite this we were quite surprised to see a relatively mixed bag of results when it came to business leaders describing the current environment, with 42% of respondents saying it was either positive or very positive. Obviously these results are highly dependent upon the industry and sector they operate in, yet it would suggest that it’s not all doom and gloom at the moment.
How do you think the business environment will change in the next 12 months?
Although the state of the current business environment may be in disarray, when it comes to the future outlook it appears that the outlook is quite positive. 58% of respondents felt that the business would either improve or greatly improve within the next 12 months.
Compared to the previous 12 months, do you expect your business' revenue to increase, stay the same, or decrease over the next 12 months?
Over the next 12 months, do you expect your business's number of permanent employees to increase, stay the same, or decrease?
Over the next 12 months, do you expect your business's number of temporary employees to increase, stay the same, or decrease?
Over the next 12 months, do you expect your business's Capital Investment to increase, stay the same, or decrease?
Your Opinions: What do you think will be the most important factors for the future success of your business?
As part of the survey, we opened up the question for business leaders to share their opinion and here are just some of the replies on what they feel is important for future success:
“The thought leadership the facilities industry can bring to Business can help to guide them on the future of the workplace, benefit the company’s bottom line and aid their recovery”
“Ongoing capital investment is essential to maintain attractive, flexible and fit for purpose environments and workplaces for our staff”
“Considering the impact of vaccines etc on staff (in terms of their attitude to returning to the office) and consumer confidence are vital in ensuring an effective recovery”
“Leaner structures, a greater need for multifunctional staffing and a comprehensive and efficiently implemented vaccination program.”
“Speed of technology investment and implementation. Managing the stress on workforce as partners/ families etc suffer from financial loss due to lack of employment/ redundancies. A focus on mental wellbeing – addressing low motivation and potentially difficult to engage workforce”