CEOs are confronting economic concerns on a foundation for future growth
29th CEO Survey
UK CEOs have expressed concern about the UK economy, and confidence about the growth prospects of their own business has also dropped over the past year. However, the UK remains in a relatively strong position in the eyes of many global business leaders.
The UK has held on to second position in terms of the countries global CEOs plan to invest in, outside their own. The UK has been joined in second by India and Germany, behind only the US.
Carl Sizer, Chief Markets Officer, PwC UK, says: “Right now, it’s important to acknowledge that sentiment among UK CEOs is lower. Factors such as the cost of employment, slower economic growth and a desire for amendments to regulation in some sectors are weighing on their minds. But we’ve seen Government take some important steps such as the Industrial Strategy, sector plans and planning reform, all which signal a positive direction of travel. To unlock investment at scale and provide a greater impetus for growth, what business leaders now want to see is that intent to translate into real speed of execution.”
It’s true that investors, when they’re considering the UK, are of course considering options in other countries. That is the nature of the global market. But the UK is still a very attractive environment for investors. We have stability.
Dhara Vyas
Energy UK
61%{{61%}}
of UK CEOs expect the UK economy to stay the same/decline this year (36% ‘stay the same’, 25% ‘decline’).
38%{{38%}}
of UK CEOs express high levels of confidence in their revenue growth over the next 12 months (down from 46% last year).
51%{{51%}}
of UK CEOs express high levels of confidence in their prospects for revenue growth over the next three years (down from 57% last year).
UK CEOs are feeling less exposed to risk
The UK is in a relatively strong position when it comes to risk exposure, underscoring the historical stability the UK has enjoyed compared to many other countries.
On the risks monitored by the PwC CEO Survey, CEOs generally feel their exposure has gone down. And many UK CEOs feel less exposed than their global peers to the risk of significant financial losses related to issues such as macroeconomic volatility, geopolitical conflict and inflation. UK CEOs also expressed less concern about tariffs than their global peers—though this remains an issue particularly prone to ongoing uncertainty.
“The UK offers a strong foundation for long-term growth,” says Sizer. “Our relative stability should not be underestimated. UK CEOs are telling us they feel less exposed to threats than last year and less exposed than many of their counterparts around the world. They are also telling us that growth is not out of reach, especially for those who have taken bold moves to enter new markets or innovate with their products and services.”
Clarity is the most important thing for any business. You have to be clear on your own direction. But you also have to be clear on the legislation that is coming. You can’t be ahead of something you don’t know.
Avril Palmer-Lavery
Constellation Automotive Group
Threat |
UK CEOs feeling significant exposure (change vs last year) |
Global CEOs feeling significant exposure |
|---|---|---|
Macroeconomic volatility |
21% (↑4%) |
31% |
Technological disruption |
18% (↑3%) |
24% |
Cyber risks |
16% (↓5%) |
31% |
Inflation |
11% (↓6%) |
25% |
Geopolitical conflict |
10% (↓6%) |
23% |
Availability of key skills |
10% (↓3%) |
22% |
Tariffs |
9% (n/a) |
20% |
Climate change |
3% (↓5%) |
13% |
Social inequality |
2% (↑1%) |
8% |
We’ve got ambitious backers. We’ve got money to deploy. We just need the policies to be investment grade. And if they come, the opportunities are huge for the UK and for us as a business.
Michael Topham
Biffa
We want to see stronger business investment driving growth, supported by government policies that create opportunities and support ambition.
Rain Newton-Smith
CBI
Explore the key findings of our UK CEO Survey
How the CEO role is evolving in the face of rising scrutiny and a need to reinvent across multiple time horizons.
Leaders look to cloud, AI, data and analytics to transform for growth, but question whether they’re moving fast enough.
While UK CEOs differ on routes to growth, most agree innovation is key for success. Yet some remain hampered by internal challenges.
CEOs share where they are on their AI journey and the steps they’re taking to realise value.
UK CEOs feel less exposed to risk than global counterparts but still expect a challenging outlook.
We’ve spoken with leaders from across industries and sectors to hear their unique insights on the forces shaping the business landscape.
Read exclusive CEO interviews
01/
Avril Palmer-Lavery
Constellation Automotive Group
‘Take risks, gamble and hold your nerve’
On the role of strong leadership, clear communication and shutting out negativity in driving growth.
02/
Louise O’Shea
CFC
Why CEOs are “never fully satisfied”
Why operating in a dynamic sector requires a relentless focus on innovation.
03/
Dominic Blakemore
Compass Group
“Do what only you can do”: CEOs must prioritise
On the value of carving out space to focus on growth and more entrepreneurial thinking.
04/
Russell Barnes
David Lloyd Clubs
“Premiumisation” is key to aggressive growth
On the power of knowing your customer and backing your investment decisions.
05/
Rain Newton-Smith
CBI
‘Hope, confidence and optimism’ can help accelerate UK growth
Why challenging perceived obstacles will be key to creating UK economic growth.
06/
Dhara Vyas
Energy UK
Energy transition is critical to economic growth, resilience and investment
Why a cleaner, smarter energy system is critical to the UK’s resilience and investor appeal.
07/
Michael Topham
Biffa
“Investment grade” policies are key to UK growth, clean jobs and net zero success
On delivering major transformation, keeping pace with regulation and knowing when to be a fast-follower.
08/
Graham Charlton
Softcat
Businesses and government must build stronger foundations for tech success
On taking a structured approach to AI and creating a future-proof team and business.
09/
Lee Perkins
Civica
The right senior leadership team is more important than ever
Why creating, developing and bringing in new leaders should be the priority for every CEO.
10/
Paul Ludlow
Carnival UK & P&O Cruises
A “north star” has never been more important
How knowing where you’re heading will inform better decisions for the short- and long-term.
11/
Mary Huen
Standard Chartered Hong Kong, Greater China and North Asia
CEOs must be connectors, custodians and cultivators in a shifting world
On aligning legacy and innovation to create stronger businesses and relationships.
Related content
Contact us
Follow us
