RegulationAccounting StandardsICAEW sees businesses planning for growth

ICAEW sees businesses planning for growth

66% of businesses preparing to grow despite recession

Michael Izza, ICAEW

More than half of companies believe the regulatory and taxation landscapes in
the UK remain unfriendly to business, according to the ICAEW.

The insitute’s Enterprise Survey also revealed that many businesses are set
on on growth despite believing that the economy will not come out of the
downturn until the back end of 2010 or even early 2011.

Insitute chief executive Michael Izza said: “This survey demonstrates that,
as the economy begins to recover businesses are focusing on longer-term
comptetiveness issue. the government should follow this lead. Despite the
serious impact on companies, the resilience of UK plc shows through with the
majority planning growth.”

The survey showed 66% of businesses are planning growth over the next two
years (84% in 2008).

Around 54% of companies say the regulatory and taxation environment is not
competitive with only 3% believing it is very business friendly.

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