A survey of business confidence from the Institute of Chartered Accountants in England and Wales, based on the last quarter of 2010, shows a sharp decline, with confidence amongst those in the production industry having fallen more sharply than that in service industries.
Retailing and construction businesses showed the greatest individual decline in confidence. Two fifths of businesses reported customer demand to be a greater challenge than a year ago, with the greatest decrease being in the banking and finance sector. Ironically, in tandem with weak demand for finance, private companies of all sizes have reported increasing challenges with regard to access to capital.
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