Chief financial officers and tech startup leaders are being more cautious, and the reason is Brexit and the trade war between the US and China.
According to the latest Deloitte CFO survey, 83 percent of those surveyed thought that the UK business environment would deteriorate as a result of leaving the EU.
Only four percent of CFOs felt that this was an excellent time to take risks, which is the lowest level since 2008.
Deloitte chief economist Ian Stewart said: “Events in the last three years, and recent news suggesting the economy shrank in the second quarter, have added to worries about the impact of Brexit. This is not solely a question of the long-term outlook. Brexit has not happened, but it is acting as a drag on corporate sentiment and spending,” he said.
“Almost two-thirds of CFOs expect to reduce hiring in the next three years as a result of Brexit and almost half expect to reduce capital spending, suggesting a cautious approach from businesses”, he added.
That downbeat feeling could spur some constructive pitches from resellers able to provide technology that will deliver efficiencies and save money.
