Industry confident in UK economy with 61% of media companies noting bumper revenues in 2014
The UK marketing and media industry is feeling confident about the state of the economy moving into 2015, according to a study of 3,000 business owners from Regus.
The annual Business Confidence Index (BCI) report revealed a 4 point rise in confidence within the marketing and media sector (116 to 120 index points) when compared with last year.
Nearly two-thirds (61 per cent) of UK media companies reported a rise in revenues in the past year, while 56 per cent saw profits grow.
Richard Morris, UK managing director at Regus, said: “Media and marketing companies do not seem concerned with 2015 election uncertainty. Far from it, confidence levels in the sector are healthier than we’ve seen in almost a decade.”
He added that flexible ways of working – particularly in relation to the physical workspace – are playing a significant role in the success of the UK media sector with 33 per cent of businesses increasing their flexible working options for staff over the past twelve months.
“Companies are managing growth carefully, with many recognising that full-time, permanent office space with its associated long-term leasing is no longer the only option. Remaining agile helps business secure and retain top talent, and keeping overheads low is vital to sustainable business growth,” he added.