Business Confidence Survey Q3 2020

Over a third of members experienced an increase in output, cash flow and domestic retail sales in Q3, although businesses continued to experience increased costs and reduced margins.

Overall, businesses are relatively pessimistic about UK economic conditions in 2021. Some of the key concerns for next year include the failure to secure a free trade agreement with the EU and consequent border/custom issues, uncertainty around future UK import tariffs and a surge in exchange rate volatility.

On the other hand, members see an increase in domestic demand, investment in new product launches and increased certainty over the future EU relationship as key opportunities for 2021.

The FDF produces Business Confidence reports on a quarterly basis which summarise member sentiment, key impacts on the industry, as well as key opportunities and challenges for the sector.