Stormy times ahead?

The Institute of Chartered Accountants in England and Wales' Business Confidence Monitor has historically proved remarkably accurate in its analysis of the business climate. Unsurprisingly the Q3 2008 report does not make happy reading. Business confidence is at its lowest level since the monitor began but there is optimism that a technical recession will be avoided.

The West Midlands is the least confident region with the South East being more confident than London. Nationally small companies are more confident than larger ones.

David Furst, ICAEW President and Horwath Clark Whitehill's Chairman, notes a significant number of companies reporting late payment. In an increasingly challenging business environment careful cashflow management is essential for all.

The Business Confidence Monitor is available here.