News


Latest tax and financial business news

Research reveals significant number of UK businesses anticipate a recession in 2020

13 Jan 2020

Research commissioned by finance provider Stenn Group has revealed that a significant number of UK businesses predict a recession in 2020.

The research found that over a third of UK firms expect the economy to shrink this year. More than a tenth anticipate it to contract by 1-3%.

6% expect the economy to stay flat and experience no growth.

The research also suggested that trade tariffs, Brexit and regional instability pose risks to UK businesses in 2020. Climate change and environmental concerns are also worrying firms, according to the report.

'2019 was weaker than expected and the stakes are only higher for the year ahead,' said Kerstin Braun, President of Stenn Group.

'The prolonged uncertainty has been battling the UK economy and many businesses are concerned Brexit could cause the economy to shrink in 2020. It's vital UK firms start investing again as they exit Brexit limbo.

'This is critical for long-term growth. If current political and economic uncertainties ease, we could see a gradual revival in activity over the course of the year.'

OUR OFFICES

020 8582 0076

staff@pearlaccountants.com

pearl-accountants-london-covent-garden

ACCOUNTANTS LONDON

Ground Floor
90 Long Acre
Covent Garden
London
WC2E 9RZ

pearl-accountants-east-london

ACCOUNTANTS EAST LONDON

29th Floor
One Canada Square
Canary Wharf
London
E14 5DY

hounslow accountants offices

ACCOUNTANTS HOUNSLOW

Quest House
Ground Floor
125-135 Staines Road
Hounslow
TW3 3JB

Peral Accountants Kingston

ACCOUNTANTS KINGSTON

Causeway House
13 The Causeway
Teddington
Kingston
TW11 0JR

Peral Accountants Kingston

ACCOUNTANTS HARROW

Suite 618
Crown House
North Circular Road
Park Royal
NW10 7PN

Staines Offices

ACCOUNTANTS STAINES

Rourke House
Watermans Business Park
The Causeway
Staines
TW18 3BA

DOWNLOAD FREE E-BOOK

To make sure your business stays ahead of the competition, download our free e-book full of tips and advice from accounting and business related information.

 
Privacy Policy
Accountants London
Company Registration No. 07078392