- London’s businesses report a fair degree of optimism about the future, with 44% expecting turnover to grow (12% expect significant growth).
- However, 20% of businesses project that turnover will shrink, with Brexit, an increasingly competitive market and skills shortages seen as the main barriers to growth.
- Firms with lower turnover are significantly less confident about their future growth than larger firms.
- Skills shortages and difficulties employing people with the right skills remain a priority concern for London’s businesses, with 42% citing this as a main barrier to growth.
- The capital’s businesses want a stronger role for London’s boroughs in the skills and employment system.
- Decision makers overwhelmingly agree that local London councils should have the powers and funding to integrate employment, skills and apprenticeships in their local area (82%).
