The research, carried out by Virgin Media Business, has also found that business leaders in Yorkshire were the most confident of success over the next 12 months. Their peers in Wales were the most nervous, with two thirds anxious that they’re in for a difficult time in 2011. With just 48 per cent of senior executives in London companies confident about the year ahead, the capital is the fourth most confident region in the UK.
When asked which factors they believed would boost their chances of succeeding,
the overwhelmingly response was the importance of private sector spend. 72 per cent said that increased demand from this sector was key to success.
Access to funding was highlighted by 45 per cent of businesses as continuing to be vital and a third stated that improved access to highly skilled workers was critical to driving business performance.
The East-End was named as Europe’s ‘Silicon Valley’ by David Cameron last year and it therefore comes as no surprise that London businesses were particularly keen for further investment into high-speed broadband, with one in four citing it as something that will significantly help them meet their objectives.
Mark Heraghty, Managing Director of Virgin Media Business commented, “It’s not surprising that our research has revealed such a mixed bag of business confidence. There are undoubtedly challenging months ahead. Yet, the view from the business community is a practical one and the research demonstrates that organisations are keen to make the most out of the opportunities available to them.