INDUSTRY NEWS

London firms confident about competitiveness

A survey by the Confederation of British Industry has found growing confidence in London.

The CBI spoke to 188 businesses – half of which were small and medium enterprises – and found 87% felt the capital was a “good” or “very good” place to work.

Many companies with London offices said they felt the capital’s profile would improve over the next five years (78%), with 65% saying they were considering expanding in the city in the next year.

The survey found fewer businesses were making redundancies now compared to last year, more than half were optimistic about the economy and 20% less businesses were worried about public spending cuts now than they were in December.

Sara Parker, London Regional Director for the CBI, said: “London is a great place to do business. Companies view the city’s talent pool, ease of access to global markets and proximity to clients as the capital’s biggest strengths.”

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