According to a survey by the Institute of Chartered Accountants in England and Wales (ICAEW), businesses are bullish about their prospects over the next 12 months.
In its quarterly UK Business Confidence Monitor Report for the second quarter of 2010, the ICAEW reports increased confidence compared with the same quarter last year across all industry sectors except business services and consumer services (hotels and catering, health, education, etc.).
However, the report stresses that while the recession appears to have ended in late 2009, businesses are still cautious. There has as yet been no return to the availability of credit seen in 2008 and problems with late payment by customers remain.