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Business confidence 'up since Olympics'

Date Added: 22/01/2013  

Business confidence in the UK has been on the rise since the Olympics and the Paralympic Games that were held in the country last year.

This is according to new research from BT, which showed many firms around the nation saw a boost to their revenues in the wake of the sporting competitions.

Some four out of five UK organisations taking part in the telecoms company's study stated they feel they will continue to benefit from London 2012 this year.

It was also noted by the firm that 58 per cent believe they will still feel benefits in 2015 and nearly a third (29 per cent) of those who replied are hoping the legacy will last at least five years.

Prime minister David Cameron stated it is clear the Olympics and the Paralympics have left a positive legacy for companies all over the country.

"British businesses were vital to the success of London 2012 - now they are capitalising on the Games and doing more business with more countries," he said, adding he welcomes the report from BT and believes the positive impact of the event will continue beyond this year.

Chief executive of BT Ian Livingstone stated the firm is proud to have played such a pivotal role in the delivery of the Games, with the company one of the biggest sponsors involved last summer.

"It's clear from our survey that British businesses did benefit, but they need to capitalise on the momentum from London 2012 if they want to see a lasting legacy," he said.

A quarter of respondents to the research stated they think they now generate more international business than they did before the Games, with this coming mainly from Europe (86 per cent) and Asia (46 per cent).

James Meekings, the founder of Funding Circle, recently told the Daily Telegraph that business confidence remains "weak" despite slight improvements in the state of the economy in the UK in the last few months.

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Posted by Miles Pritchard

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