A December survey of Britain’s financial directors and financial controllers by CIMA also found 72% of respondents believed IT costs have risen substantially.
The finding comes at a time when British businesses are spending more than ever on IT.
Meanwhile 78% of respondents thought Internet companies were significantly overvalued on the stock market – but thought it would be unlikely to change over the next 6 months.
Overall, confidence in the UK economy continues to rise significantly with 74% of respondents optimistic about the next 12 months, compared to 57% in May.
This confidence is reflected in employer’s generosity over Christmas, as two thirds of businesses surveyed financed a Christmas party this year and a quarter provided a Christmas bonus. Expenditure on each of these is higher than in 1998.
Respondents in the survey represent business organisations with turnovers ranging from £10 million to over £1 billion.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.