Since last summer’s calamitous season for fintechs, investors and business leaders alike have struggled to maintain an optimistic outlook for the long-term prospects of the industry. However, according to a recent report by Deloitte, financial officers across the U.K. have recovered a great deal of confidence—in fact, survey responses indicated an increase in confidence among CFOs of 8%, the highest such increase in three years. With more than 25% of respondents answering that they were feeling better about the future compared to the recent past, it appears businesses in the U.K. may yet hold out hopes for a major economic recovery.
As described by Khalid Talukder, Co-Founder of DKK Partners, this report represents a much-needed dose of optimism for those in the industry. “Business owners can look to a brighter future and get back out to the marketplace after a turbulent few years,” Talukder said in an interview. “A growing economy will empower businesses with the confidence they need to re-engage with normal business operations.”
At the same time, it must be remembered, confidence is not a particularly effective safeguard against future downturns. “We must still be cautious as the risk of a recession is not completely disregarded, Talukder continued. “However, businesses can remain optimistic as positive steps continue to be taken towards economic recovery.”