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MLE Creative recruits technical specialists to its medical and healthcare team
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Business Optimisim Survey |
| Monday, 07 December 2009 14:59 |
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In March we polled our members about their businesses and how they were coping with the economic downturn. We recently undertook this survey again to see how things had changed and now you can read the results to our long-awaited follow-up.
In March we polled our members about their businesses and how they were coping with the economic downturn. We recently undertook this survey again to see how things had changed and now you can read the results to our long-awaited follow-up. Unsurprisingly, given the recent doubt over the ability of the UK to emerge from the recession as quickly as had been hoped, businesses were slightly more pessimistic about the next three months, than they were in March. When asked to consider their performance for the next six months however, more were optimistic about the future outlook, than they were in March. With most respondents seeking finance from banks, investors or venture capitalists, it is interesting to note that our members felt there was no difference in their opportunities for finance; the exact same sentiment they expressed in March. Proof, if any were needed, that despite protestations to the contrary, the banks are not making it any easier to borrow much needed working capital. Interestingly, the economic turmoil has caused businesses to shift their efforts to penetrating new markets with their current offerings, rather than developing new ones. Somewhat surprisingly, given the general state of the UK economy, a quarter of the businesses we surveyed were intending to recruit in the next three months; this positive note gives some cause for optimism, but is offset by a rise in the number of companies expecting to reduce their head count in the next three months. Nearly all the businesses we questioned, expected to secure a larger percentage share of their target market within the next six months, hopeful of holding that share for the next five years, but mindful they may have to combat a declining share over that period. Worryingly for the wider economy, respondents reported having only half as many suppliers to choose from now, when compared to the numbers in March. Nearly all of the businesses we questioned felt the falling value of Sterling and the poor exchange rates were the biggest challenge their businesses faced in the last six months. We'll be asking our members the same questions again shortly to see how things have changed in recent months. Please check back regularly to read our updated barometer of the life sciences sector and find out if they agree with your feelings about the challenges that lie ahead. |
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