Accountancy and business advisory firm BDO LLP’s latest Thames Valley Barometer report reveals the confidence levels and predictions on Brexit and productivity of over 100 businesses in the Thames Valley over the next six months.
Despite low confidence, productivity remains high with 65% of businesses scoring their productivity levels between six and eight, with ten being the optimum. There are two clear areas with room for improvement with 34% citing internal processes and 29% citing excessive workloads as barriers to achieving higher productivity levels.
The report, in collaboration with C8 consulting, is supported by a panel of over 30 business leaders whose latest roundtable discussion included commentary on the changing landscape of business in the Thames Valley, including the increase in agile working and how the region can compete with the capital.
David Brookes, Partner and Head of BDO in the Thames Valley, commented,
“Whatever their views on Brexit, businesses will be pleased to see an outcome, as signified by the severe contrast in confidence levels pre and post-referendum.
“Since spring 2016, the percentage of businesses stating that they felt confidence levels had dropped, has doubled. It will be interesting to see if confidence levels increase now that it appears that the United Kingdom is highly likely to leave the EU at the end of this month.”
The survey and report will be run again in spring 2020, giving a clearer picture as to how these businesses feel following the general election, Brexit and the Budget.
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