Mixed feelings from UK bosses

British bosses are more confident about the prospects for global economic growth this year – but a growing number also expect to cut jobs at home amid Brexit uncertainty.

According to business services giant Pwc’s CEO survey, which quizzed nearly 200 British bosses, more than a third (36 per cent) believe worldwide economic growth will improve in 2018. That compares with 17 per cent last year.

This is the most confident bosses have been since 2015, and represents “resilience in uncertain times”, PWC said.

Almost nine in ten UK bosses are optimistic about their organisation’s growth prospects in 2018, in line with their global counterparts, with almost all expecting revenue to increase.

But the number of UK business leaders describing themselves as “very confident” has dipped from 41 per cent last year to 34 per cent.

In addition, the number expecting to increase headcount has fallen to 54 per cent from 63 per cent last year, and 15 per cent expect to reduce jobs, up from 10 per cent in 2017.

“While optimism remains high, the PWC CEO Survey findings suggest businesses are braced for more challenging times ahead,” PWC said.

Kevin Ellis, chairman and senior partner at PWC, added: “Robust confidence levels among UK CEOS points to resilience in uncertain times, but this is tempered by a big dose of realism about the challenges ahead.

“Brexit uncertainty, regulation, availability of skills and cyber are key concerns, but business leaders remain confident they can navigate through them.”

The total survey saw 1,293 global bosses across 85 countries probed for their views on economic growth.