Businesses 'relieved' that worst of recession is over

The majority of companies are relieved that the worst of the recession is over and they can concentrate on moving out of it, according to one expert.

George Derbyshire, chief executive of the NFEA - the national enterprise network, said that most firms are now looking to the future and the possibility of taking on skilled staff after weathering the storm of the downturn.

His comments came after the Lloyds TSB Business in Britain survey showed that UK companies are currently more confident than at any point in the past two years and believe that 2010 can be the year they increase profits and begin hiring new workers.

Mr Derbyshire explained: "A lot of employers have taken quite a responsible view to employment. We're seeing people taking wage freezes and in some cases wage cuts or reduced working hours."

He said that this has prevented redundancies, which has been one of the key reasons why employers and staff are currently so positive in their outlook.

Posted by Chris Hatch