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Accountants confident about UK’s economic prospects

ACCOUNTANTS are becoming increasingly positive about the UK’s economic future, according to research produced by Iris.

A survey conducted by the software company of more than 300 accountants found 59% said they had positive expectations of their clients’ financial situation for the next financial year, well up on 36% in the previous year’s survey.

Respondents were also optimistic about their own organisations, with
nearly three-quarters saying they had positive expectations of their own firm’s prospects in 2014.

The survey also showed growing evidence that firms are becoming more proactive in finding a way out of the recession. Around 65% earmark efficiency a priority for 2014, nearly four times the number pursuing that same goal in the 2012 survey, when 18% gave that response.

Yet practices called on the government to be more supportive, with 68% pointing to red tape and bureaucracy for businesses as hindrances in kick-starting the economy, compared to just 30% last year.

Iris chief executive Phill Robinson said: “These are highly encouraging results. Accountants are becoming increasingly convinced that the recovery is happening – and it is particularly pleasing that they view the outlook for their clients so positively. We would expect this trend to continue next year as the economic situation continues to improve.”

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