How confident do businesses feel for the rest of 2022?
57% of businesses surveyed still feel confident for the rest of 2022
The majority of businesses surveyed feel confident for the rest of 2022 (57%) but this figure was down from 67% in 2021. The biggest challenge of 2020 and 2021 was the consequences of the pandemic. This has now shifted to Brexit, inflation and staff shortages.
In our 2022 business confidence survey, we asked a series of questions around the lasting challenges of the pandemic, the cost-of-living crisis, the skills shortage and the impact of Brexit.
43% of businesses surveyed do not expect to see an increase in their profits in 2022, 29% were expecting to see an increase whilst the rest where not sure at this time.
Inflation was rated as the biggest challenge of 2022 (39%). Brexit, staff shortages and the pandemic were all a close second with 15% of businesses citing these as challenges they needed to overcome.
57% of businesses surveyed are looking to increase their prices in order to cover the increase in costs of running their businesses.
Businesses have faced a tough period in finding and retaining the right staff, 29% of businesses surveyed said they are taking longer to recruit at the moment. Whilst 14% are resorting to hiring less qualified candidates, the rest have not been affected.
Businesses are becoming a lot more aware of the need to take on corporate social responsibility. Environmental issues were important with 33% of businesses citing this as a priority, 50% looking at social factors and diversity, equality and inclusion also being seen as important.
Sean Daniel, Managing Director said “After the pandemic, we all thought we could get back to business. 2022 has seen a number of fresh challenges such as the cost-of-living crisis, Brexit and staff shortages”.
If you would like to obtain a full copy of our business survey, send us an email and we will ensure you receive one.
At Clear Vision Financial Management, we specialise in providing an outsourced finance function. We love becoming an integrated part of your business and you will benefit from the experience of a wide team from Finance Director level through to Bookkeeper. Find out more about our outsourced finance department.
If you would like a chat about how we can help you with our outsourced finance department, please get in touch with the friendly Clear Vision Financial Management team. You can call us on 01794 330025 or email us