The Chartered Institute of Marketing’s latest Marketing Trends survey shows hints of increasing business confidence among UK marketers.
While 72% of the 1,223 marketers surveyed still do not think that the UK will completely pull out of recession by the end of this year, the number of respondents believing the situation will worsen over the next year halved – to 34% – compared to the last Marketing Trends survey conducted in autumn 2008. 35% expect business to improve throughout 2009, and more than a quarter (26%) believes the UK economy will improve over the next 12 months, a figure that compares favourably to just 11% in the previous survey.
However, almost a third of respondents are concerned over losing their jobs in the next 12 months and 18% of self-employed marketers worry that the recession may force them to close their business this year. Nevertheless, while 2009 is still anticipated to be a tough year overall, there are definite signs that British marketers believe the worst may soon be over.
Backing this belief, a survey of global marketers recently carried out by B2B International showed almost half of the respondents (47%) to be feeling optimistic about their own organisation’s prospects over the coming year.
Meanwhile, the latest Business Trends report by accounting firm BDO Stoy Hayward LLP shows that UK businesses expect the pace of economic decline to slow markedly over the next quarter, supporting the UK Chancellor’s predictions of a recovery starting in Q4 2009.