Will hung parliament inspire firms to use facilities management cost reduction processes?
May 10th 12:05 Cost Management
A number of businesses could be encouraged to seek facilities management cost reduction assistance following the result of the general election.
According to a recently-published report by Travelex Global Business Payments (GBP), 48 per cent of the UK's enterprises feel the hung parliament outcome will have a negative effect on their business.
The study revealed that the majority of businesses feel a weak pound will now have a huge impact on their future prospects.
Paddy Earnshaw, customer director at Travelex GBP, said: "Most of our business customers are concerned about the impact a hung parliament is having on the pound and unfortunately we expect it to remain weak for the foreseeable future.
"Worryingly, a hung parliament may also affect their ability to obtain credit for their business. If the markets do not see the deficit being addressed quickly and effectively, the UK's credit rating will come under pressure."
Discussions are currently underway between the main political parties to see if an agreement can be reached to form a collation government of some description.
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