Around the turn of the year the Institute of Directors (IoD) issued the latest statistics in their series on business confidence. It was perhaps unsurprising, given the ongoing uncertainty surrounding Brexit, to see that business leaders’ confidence in the UK economy had fallen to its lowest level in eighteen months.
What was more pleasing, however, was the more positive way in which leaders viewed the prospects for their own business. So much so, that own-business confidence climbed to the highest level seen since July 2018. Medium sized businesses were the most optimistic at plus 38%, with large businesses reporting in at plus 34% and small business at plus 28%. Commenting on this positivity the IoD’s senior economist, Tej Parikh said that “Firms are clearly facing a challenging environment, but our members are still optimistic about their own companies, indicating that the weakness is in politics rather than inherent in British business.”
It is easy to lead when times are good but true leadership comes through when the business environment becomes uncertain. That’s when strategy, flexibility, and people management all come together in a cohesive drive to optimise outcomes.