WStore survey of UK businesses finds confidence high despite credit crunch

UK businesses are confident that 2008 will be a year of continued growth despite the attention given of late to the so-called credit crunch, according to research conducted by WStore, the leading online supplier of business IT equipment.

The findings are part of WStore's ongoing series of customer research projects which seek to bring the company closer to the issues facing its customers.

Asked if they expect their 2008 revenues to increase, decrease, or stay the same, when compared to 2007, a resounding majority – 65.8% - said they expected an increase.  Only 6% expect a decrease, with 18.0% saying they felt things would stay the same, and 10.2% saying they didn't know.

The same survey found that spending on IT is set to remain buoyant in 2008 as well.

Almost half of respondents (44.7%) said they expect their IT expenditure to increase in 2008, with 36.5% saying "stay the same" and only 10.2% saying "decrease".  The "don't know" responses made up 8.6% of the total.

Stewart Hayward, WStore's commercial director, said: "The findings of our survey are completely unbiased and as such give what we feel is a true reflection of UK business' outlook.  To see that almost three quarters expect their businesses to do well at a time when many economic commentators are wringing their hands is very encouraging.  Naturally, from our point of view, finding that so many also expect to spend more on IT this year is also very positive news."