UK companies expect to grow

News

The majority of UK businesses are planning for growth in the next few years, despite predicting that the effects of the downturn will last into 2011.

These are the conclusions of the latest survey by the Institute of Chartered Accountants in England and Wales (ICAEA) on the affects of the downturn in the UK a year after the recession was declared.

The study revealed that growth plans are currently more cautious, with 66 per cent expecting to increase turnover in the next two years, compared with 84 per cent in 2008.

According to the survey, a third of businesses have been affected negatively from the downturn, up from 20 per cent in 2008, while only 15 per cent said that their organisation remained unaffected.

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