Barometer points to storms

Milton Keynes skyline
Milton Keynes skyline

MILTON Keynes businesses are massively concerned about the threat of a double-dip UK recession but optimistic about their own prospects.

Those are two of the findings of the first of a unique barometer of city firms carried out by Business Citizen in collaboration with professional services firm KPMG.

The business barometer found 78 per cent of businesses are concerned about recession with 65 per cent about competition and cost control.

But Milton Keynes is well-placed. Some 73 per cent rate MK a good or very good place to do business

Access to advisors and quality of life rank as the most positive aspects of business in MK (80 per cent each) followed by transport (78 per cent).

The survey was carried out after the Budget. A healthy 60 per cent of local firms are optimistic about their own prospects for the next six months, compared to just 14 per cent optimistic about the UK economy.

Peter Selvey, KPMG’s Milton Keynes office senior partner, said it was ‘encouraging’ to see optimism starting to return. He added: “With the majority of businesses confident that their profitability is likely to improve, and with many claiming that they have no plans to reduce staff numbers further, the overall local picture is looking positive.”

> For a copy of the results email emma.murray@kpmg.co.uk