British business trust survey results 2024

UK Business Confidence Survey 2024, conducted in partnerships with UK200 Group, has explained the sentiments that apply between the British business. These findings reveal the balance of optimism and careful when the business wrestles with economic uncertainty and developing the challenges of regulations.

This survey highlights that 30% of the business maintains a positive view for the future, down slightly from 35% in 2023. Specifically, when asked to summarize their views in one word, terms such as “Optimistic,” “promising,” and “enthusiastic” emerged , raising the proportion of positive sentiment to 34%.

However, 24% of respondents stated a bleak view, rising significantly from 14% in 2023, while almost half (46%) described their perspective as “Be careful.” This nuanced sentiment reflects the challenges faced by business, including shifting regulations and economic pressure.

The main challenge for 2025

Economic concerns are peak of the challenge list, with 52% of business identifying inflation, cash flow management, and tax burden as the most urgent problem. Respondents also highlighted political and geopolitical uncertainty as a factor that had an impact on their confidence.

Apart from these obstacles, 31% of the business reported better performance in 2024 than in 2023, showing resilience and ability to adapt. However, 46% shows its performance remains stable, while 23% suffered a setback.

When a business navigating 2025, good legal and strategic planning is more important than before. Changes in regulations, contract complexities, and compliance obligations can pose risks, but they also create opportunities for those who are ready.

Ryan Mitchell, Senior Associate in Paris Smith: “These findings underline the importance of advanced legal strategies. Whether reviewing contracts, managing risk, or navigating changes in regulations, businesses must adopt a proactive approach to ensure they remain tough and competitive. “

To reduce risk and take advantage of opportunities, we recommend the business:

• Review contracts and agreements – Make sure the supplier agreement and customer are strong, clear, and can be upheld to protect your interests.
• Strengthening Compliance Efforts – Staying in front of changes in regulations, especially around taxes, employment law, and data protection.
• Discussing Risk Management – Proactively identifying potential vulnerability, from operational risks to geopolitical impacts.
• Adapt to changes – build flexibility into your contract and strategy to respond effectively to developing market conditions.

In Paris Smith, we understand the complexity faced by business in an uncertain time. Our expert legal team is here to support you with:

• Reviews and preparation of adjusted contracts
• Risk management and mitigation strategy
• Advice on compliance and regulatory governance
• Settlement of disputes and legal planning prevention

Let’s work together

2025 presents challenges and opportunities for the British business. By working together, we can help you strengthen your legal position and navigate the way in front with confidence. Contact Ryan Mitchell to discuss how we can support your business. Look at the company and commercial section of our website for more information about the services we can provide to you.