Small business owners in Wales remain the most pessimistic when it comes to being well-placed for economic recovery, according to a new survey.
The latest quarterly research from Clifton Asset Management (CAM) reveals that just 17 per cent of businesses believe that Wales is in a better position than the UK as a whole to emerge from the downturn – down from 25 per cent last time.
The West Midlands also recorded a figure of 17 per cent in the CAM survey, while at the other end of the scale 75 per cent of business owners in London felt the capital was better placed than the country as a whole to capitalise on a return to economic normality.
"Our findings in Wales highlight the fact that the vast majority of business owners remain generally pessimistic about the outlook in their area," said Anthony Carty, director at Clifton Asset Management.
"It is also worrying that confidence seems to be heading in the wrong direction at a time when the UK economy finally looks to be on the road to recovery."