Optimism among UK businesses rose last month at the fastest rate since April 2010, according to employers group the CBI. A separate report by YouGov and the Centre for Economics & Business Research (CEBR) found that households’ optimism in the recovery improved for a 10th straight month in October.
Confidence – together with low interest rates – has led firms to start re-evaluating how investments, particularly in IT solutions, systems and consulting services, can help them to improve profitability and growth.
According to INCo CEO, Neil Ritchie, a key component of the future expansion of IT and consulting firms will be whether they have invested in business development and lead generation capacity. “The majority of our clients are very positive about the current market conditions but their concern is that they only hear about what is happening in their network.. They turn to INCo for help in seeking out the next generation of buyers from companies that they have aspirations to work with, but have no direct contact with the executives responsible for the current board approved investment projects. It is these companies who will add exponential growth to our clients.”
Signs of resurgent confidence come ahead of official GDP figures that showed the economy grew 0.8pc between June and September, the fastest rise in more than three years. The CEBR expects the economy to expand by 1.6pc for the year as a whole, more than double the Government forecast in March.
“These trends make life difficult in the short term, but out-sourcing new business development to identify qualified sales opportunities is one way to ensure sales force effectiveness in a time of growth