Deloitte’s latest poll of financial chiefs at UK companies found they are the most aggressive about acquisitions in 11 years, as they look to expand quickly.
Over 70% of CFOs expect to boost capital expenditure and hiring over the year ahead – the highest level in almost seven years, which could help give Britain’s productivity a boost.
Richard Houston, senior partner and CEO at Deloitte, explains: “We’ve seen a huge shift from the uncertainty caused by the pandemic to an appetite for acquisitions, investment and hiring. With the majority of finance leaders expecting a return to at least pre-pandemic levels of demand, the focus is now on innovating and creating new products and services.
“The businesses that have successfully navigated this pandemic have been able to adapt quickly. Investing in digital technologies will be key to business agility and creating sustainable growth.”
The survey, conducted in the second half of June, found that:
- CFOs rate growth as their top priority, with expectations for an increase in hiring and investment at their highest levels in almost seven years
- Finance leaders are placing greater emphasis on acquisitions now than at any time in the last 11 years
- Over half (57%) have either reported a full recovery in demand for their businesses, or expect to do so by the end of the year, with 41% reporting that demand for their businesses has already returned to pre-pandemic levels