The survey, conducted by global credit company Creditsafe and completed by 755 business leaders, revealed that almost half (42%) expect the economy to pose the biggest risk to their company in 2019.
This was followed by ‘recruitment’, where a fifth of businesses expect the biggest challenge, and ‘politics’ which 17% suggested will be their greatest hurdle. A further 1 in 3 business leaders said they were not optimistic about the UK’s economic growth in 2019, with 40% unsure as to how the economic climate will develop.
One in five businesses suggested that recruitment will be their biggest challenge for 2019, with those businesses aged between 0 and 2 years the hardest hit. In spite of this, 56% of businesses expect to increase their headcount in 2019 - though 83% did not choose to employ a graduate in the previous year.
Speaking of the results, Creditsafe’s UK CEO Chris Robertson said: “It’s been a memorable year for businesses in Britain, with Brexit dominating the media headlines and uncertainty around our role in the EU still rife.
“The Business Census is intended to provide a snapshot of the state of UK business based on experience, as opposed to just statistics. The impact of economic uncertainty on the optimism of business leaders for 2019 will undoubtedly gain the attention of business bodies and the government, who should take note of these less tangible, yet still important, impacts of their actions.”