The eleventh ICAEW Enterprise Survey highlighted how UK corporates continue
to embrace globalisation, with 72% of respondents engaged in international
However, despite 44% of respondents claiming that they view the impact of
globalisation positively (up from 40% in 2006), just 42% say they have a
strategy for dealing with it.
A similar proportion of businesses (40%) are now looking for annual growth
rates in the double percentage figures, with 13% looking to grow their company
by a massive 30% a year. This rises to 20% within small businesses.
Almost 60% of businesses say that they’ve taken action to counter higher
interest rates, while nearly half believe that mergers and acquisition activity
in their sector will increase in the next year. Not surprisingly, simplification
of the tax system and a reduction of regulation are seen as priorities for the
government to tackle.
The total cost of implementing new legislation to UK businesses is estimated at