The Markit UK Business outlook has signalled an increase in business confidence from Oct 2016. The survey, completed in February shows that 52% of the UK private sector is expecting a rise in activity throughout 2017. This is an increase from 39% shown in the previous survey. Many businesses reported that the positive outlook is supported by the resilient economic background and improving client demand so far this year. Many businesses also have taken advantage of the weak sterling rates and have sought opportunities in Europe and elsewhere, possibly also cementing their position for Brexit in the longer term. This increase in confidence in the marketplace has also indicated a positive trend for hiring more staff in 2017, with 27% of respondents expecting to require more staff in 2017.
Regency has also seen an increase in invoicing from December 2016, with clients increasing their customer base. This, along with a boost in requests for credit limits for customers not based in the UK, reflects the confidence increase noted by the Markit survey. Our ability to support clients with increases in activity both in the UK and abroad means that many clients turn to us to increase their cashflow which will enable them to pitch for yet more business.