According to new research by Marsh, an insurance broker and risk advisor, companies across the UK are most concerned about the impact of financial uncertainty (34 percent), employee health and wellbeing (31 percent) and supply chain disruption (23 percent) on their businesses over the next 12 months. The findings come from Marsh’s UK Business Risk Report 2023 [registration], which features data obtained in May and June 2023 from over 2,100 UK businesses with turnover of between £100,000 and £500 million + per year. Now in its third year, the report explores how circumstances over the last 12 months have impacted the business risk appetite and approach to risk management among UK companies, and identifies their priorities for the year ahead.
According to the research, financial uncertainty is the top risk facing UK businesses due to rising inflation, energy prices, and raw material costs. However, only 34 percent of respondents see it as a significant concern, the lowest percentage in the last three years (43 percent in 2021, 37 percent in 2022). This is due to businesses strengthening their financial resilience during the pandemic and a return to more familiar financial…
