UK transport firms predict steady growth over next decade

Companies involved in UK transport are predicting continued steady growth over the next decade, according to ‘Business in 2021’ research by Barclays Corporate, released two days ago.

Three-quarters of respondents to the survey also envision businesses battling increasing red tape going forward, however.

Business bosses from all types of sectors were questioned on the conditions they expect to encounter over the next ten years. The results were generally positive with about 50 per cent anticipating that the UK will be a better place to conduct business in 2021.

Attitudes of those in the transport sector were decidedly more sober with 26 per cent being able to see Britain being a ‘somewhat better’ place in the near future, while 35 per cent think that business conditions will get worse in the UK.

Of those who predicted steady growth, 85 per cent said technology would be the main contributing factor, followed by immigration/population growth (82 per cent).

Rob Riddleston, head of transport and logistics at Barclays Corporate, said that it should be encouraging news for the Government that a large number of businesses expect steady growth of the next ten years.

“The transport sector is a bell weather for economic activity in terms of both passenger and freight movements and will thus reflect the wider prospects for the UK,” he added.

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