UK business confidence hits near two-year low as firms face higher costs and falling orders.

UK business confidence has hit a nearly two-year low, according to BDO, following the recent autumn Budget. Businesses are bracing for increased national insurance contributions and minimum wage hikes, facing rising costs, reduced customer confidence, and falling orders. This decline in output and employment suggests a potential economic contraction, though UK mid-market businesses are seen as resilient with appropriate government support.

December 08, 2024
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