Almost two-thirds of British businesses agree that the UK economy offers good long-term prospects for business growth and, despite the challenges in recent years, more than seven out of ten still believe Britain is a good place to start a new business.
Contrary to reports earlier this year which warned that many businesses might leave the UK to avoid changes to tax regulations, less than 2per cent surveyed claimed to have had any plans to shift their companies off-shore in the medium to long-term.
China followed by New Zealand and Australia topped the list of places business owners might consider if they could relocate or set up a new business in another country.
Location as well as strong transport and communication links were identified as “the best things going” for British businesses.
Colin Fyfe, iFS Divisional Director for Clydesdale and Yorkshire Bank, who commissioned the research, commented, “Business leaders have demonstrated their clear commitment to the UK and shown how much the country is integral to their company’s success and future plans.
“Despite recent economic challenges, British businesses appear to be positive about the UK’s potential to deliver stability and growth opportunities to their business, so much so that they clearly have no intention of upping sticks and moving overseas.”