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Study: Many businesses feeling under pressure in 2011

Date Added: 05/04/2011  

A significant proportion of UK companies are concerned about their growth prospects for the coming year, a new study has shown.

The British Chambers of Commerce (BCC) today (April 5th) published its latest Quarterly Economic Survey, which shows that while the country has now returned to a period of financial growth following the global slump, worries about the future remain among many firms.

This study garnered responses from some 6,000 businesses across the nation and found that "cash flow and price pressures" are combining to constrain expansion in the sector.

For instance, it was revealed that 80 per cent of firms in the manufacturing industry are feeling under pressure to increase the price of their products due to the growing cost of raw materials.

David Kern - chief economist at the BCC, which represents the UK's wider business community - observed that factors such as the VAT hike and the "first wave of the government's tough spending cuts" had contributed to this trend.

Posted by Michael Beam

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