An improving outlook, KPMG' Business Instinct Survey 2014, asked UK business leaders to give their perspective on how the business climate feels. This year, the overall picture is one of a recovering economy, where confidence is slowly returning.
As we reach a new stage in the economic cycle, new challenges and opportunities are emerging. After five long years of making survival the priority, businesses need to plan for success in a climate that is more conducive to growth.
Is your business ready for recovery?
What’s the most effective way of getting the skilled staff you need on board?
Respondents ranked ‘attracting skilled staff’ as their top people challenge. However, are businesses doing enough to attract workers from a talent pool that now spans several generations?
How should you respond to the threat from international competition?
International competition could mean that UK businesses have to look overseas to expand, whether they want to or not. But which are the most attractive markets and what’s the best way in?
Do you need to rethink the way you use technology?
Technology offers a platform for increased efficiency and improved margins. But, feeling out of their depth, many business concentrate on avoid a tech-related failure rather than getting the best from their technology. Where should your technology emphasis be?
Are you focusing on the right risks or leaving key dangers unaddressed?
Identifying and prioritising risk issues correctly is fundamental to protecting your business. Regulatory change, supply chain risk and cyber threats should all be on your radar, but which should take precedence?
Where will you find the funding you need for growth?
Our survey respondents report a loosening in the credit market, but borrowing remains expensive in sectors that are perceived to have a higher risk profile. Will the recovery make it easier for your business to access finance?
This report includes incisive commentary on the key challenges in a recovering economy and practical ideas on how to address them. Download the survey report to find out if your business is ready for recovery.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.