The 2020 Business Leaders’ Survey, from CGA and Fourth
The 2020 Business Leaders’ Survey showed that 60% of senior executives were optimistic about prospects for the sector in February
The 2020 Business Leaders’ Survey, from CGA and Fourth, showed that 60% of senior executives were optimistic about prospects for the sector in February – a leap of 16 percentage points on CGA’s last confidence survey in November, to the highest point since the EU Referendum of mid-2016. More than four in five (83%) leaders were confident about prospects for their own business—a quarter-on-quarter rise of 19 percentage points.
The upswing reflects greater clarity around Brexit and renewed optimism about consumer spending. The proportion of leaders who said they were concerned about consumer confidence over the next 12 months had fallen from half (53%) at the time of the 2019 Business Leaders’ Survey to a third (34%) now.
There were also concerns about cost pressures, with nearly all (96%) leaders thinking pay, led by an increase in the National Living Wage, would be a significant issue for the sector in 2020. Well over half were also concerned about the challenges of business rates (69%), potential tariffs and trade deal impacts (60%) and food costs (60%).
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CGA’s Business Leaders’ Survey received responses from 174 industry leaders working at CEO, Chair and director level and was undertaken between 28th January and 18th February 2020. The full findings from the survey, including in-depth insights into market trends and major industry issues, are available now