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Realistic view ‘should prevent recession’

A cautious attitude towards the future among small business owners should help prevent recession, according to the Institute of Chartered Accountants for England and Wales (ICAEW).

The group says that the ‘growing realism’ of UK-based firms means that they will take adequate precautions and help keep the economy out of recession.

Robin Fieth, the ICAEW’s executive director of operations and finance, claims that the decline in the body’s Business Confidence Index from -19.7 to -25.7 shows companies have recognised the challenges that lie ahead.


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