ICAEW Business Confidence Monitor highlights challenges of Coronavirus and Brexit for East of England businesses

22/12/2020

The Institute of Chartered Accountants in England And Wales (ICAEW) has published its latest Business Confidence Monitor report for the East of England covering Q4 2020.

The report is compiled following telephone interviews with c1,000 Chartered Accountants and over the years this report has proved to be one of the most reliable “lead indicators” for how the economy is performing.

The findings show a sharp decline in business confidence in our region during 2020 from 9.9 in Q1 down to -11.9 in Q4, reflecting the challenges this year from Coronavirus and Brexit uncertainty.

The ICAEW’s analysis has found that supressed customer demand and late payments are the key challenges businesses are facing in our region.

More positively, the report suggests businesses are confident of a rebound once Coronavirus restrictions are lifted.

Read the full report here.