London Business Confidence improves

Research from the London Chamber of Commerce and Industry (LCCI) shows a rise in business confidence.

The research shows that 62 per cent of firms now say it is very likely they will survive the recession, up from 50 per cent in January. When taken together with those who say they are fairly likely to survive the total rises to 95 per cent.

But despite a rise in confidence, many of the underlying trends that have made it difficult for businesses in the capital persist. Late payments are "a continuing problem", up 2 per cent from January, and 22 per cent of companies have made redundancies, while 59 per cent remain concerned about the security of their supply chain.

The SME sector looks robust, only 9 per cent of firms with under twenty employees said they have made job cuts.

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