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15 jul 10.qbe business sentiment survey jul 2010 - data extract

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Data were collected by The Survey Shop in June 2010. A total of 406 interviews were conducted by telephone using quota sampling. Respondents were qualified as owners, managers and decision-makers, and …

Data were collected by The Survey Shop in June 2010. A total of 406 interviews were conducted by telephone using quota sampling. Respondents were qualified as owners, managers and decision-makers, and the data are representative of SMEs in UK and Ireland.


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  • 1. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 1 of 50 QBE’s FOURTH BUSINESS SENTIMENT SURVEY DATA EXTRACT London, 15 July 2010 About QBE’s Fourth Business Sentiment Survey Data were collected by The Survey Shop in June 2010. A total of 406 interviews were conducted by telephone using quota sampling. Respondents were qualified as owners, managers and decision-makers, and the data are representative of SMEs in UK and Ireland. The data are representative of SMEs in the UK and Ireland, grouped by region (East, London, Midlands & Wales, North Midlands, North West, Scotland, South West, Yorkshire & North East and Ireland) and by number of employees (Up to 10, 10 to 49 and 50 to 250). About QBE Founded in Australia over 100 years ago, QBE Insurance Group is a specialist business insurer, now operating out of 48 countries across the globe. We have been active in the UK since 1904, orginally within the marine insurance market, but branching out more recently to offer commercial insurance to companies across the UK. At the end of 2009, the Group’s turnover was over £7bn, making it one of the largest insurance firms in the UK. We provide insurance for a broad range of business categories, including property, motor (commercial, bus and fleet), employers’, public and product liability insurance, professional indemnity, leisure and sport, marine, energy, aviation, and specialty insurance, including bloodstock. In the UK QBE is rated a leading insurer for claims service,* scored above average in all five key measures of insurer performance**: and best insurer for Commercial Motor*** * December 2009, source: Gracechurch Survey **Source: Insurance Times Commercial Broker Survey 2009 ***Source: Post Magazine 360 Commercial Broker Survey 2009
  • 2. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 2 of 50 QBE is proud to be the official insurance partner of Premiership Rugby and England. These partnerships with two elite properties in the sport will allow QBE’s brand to continue to develop and business to grow -ENDS- For further information please contact: Sandra Villanueva, QBE European Operations Tel:+44 20 7105 4428; email sandra.villanueva@uk.qbe.com Samantha Whiteley, Haggie Financial Tel: + 44 20 7417 8989; email Samantha.Whiteley@haggie.co.uk Henny Breakwell, Haggie Financial Tel: +44 20 7417 8989 email: Henny.Breakwell@haggie.co.uk Follow us on Twitter @ http://twitter.com/QBEeo
  • 3. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 3 of 50 How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South west Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) 6 months 1% 0% 0% 5% 0% 0% 3% 3% 0% 1% 12 months 13% 21% 23% 16% 5% 3% 8% 8% 22% 12% 18 months 12% 13% 8% 5% 19% 18% 10% 13% 11% 10% 2 years 60% 58% 46% 62% 59% 66% 63% 71% 41% 65% Don’t know 15% 8% 23% 11% 16% 13% 18% 5% 27% 13% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 4. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 4 of 50 How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) 6 months 1% 3% 0% 3% 0% 0% 3% 0% 1% 12 months 13% 11% 3% 8% 23% 21% 8% 22% 12% 18 months 12% 12% 18% 10% 8% 13% 13% 11% 10% 2 years 60% 61% 66% 63% 46% 58% 71% 41% 65% Don’t know 15% 14% 13% 18% 23% 8% 5% 27% 13% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 5. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 5 of 50 How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) 6 months 1% 1% 1% 1% 2% 0% 12 months 13% 13% 12% 12% 18% 0% 18 months 12% 12% 10% 11% 10% 28% 2 years 60% 58% 65% 62% 55% 44% Don’t know 15% 15% 13% 14% 14% 28% Column total 100% 100% 100% 100% 100% 100%
  • 6. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 6 of 50 How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) 6 months 1% 2% 1% 5% 2% 0% 0% 0% 2% 12 months 13% 7% 13% 11% 17% 7% 20% 15% 12% 18 months 12% 14% 13% 21% 10% 5% 27% 7% 4% 2 years 60% 48% 65% 53% 67% 60% 41% 61% 71% Don’t know 15% 29% 9% 11% 5% 29% 12% 17% 12% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 7. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 7 of 50 Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South west Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Sales turnover to increase greatly in the next 6 months 5% 8% 3% 8% 5% 0% 10% 3% 11% 2% Sales turnover to increase a little in the next 6 months 27% 32% 18% 32% 32% 32% 28% 24% 30% 25% Sales turnover to stay the same in the next 6 months 45% 50% 49% 35% 35% 53% 38% 55% 41% 46% Sales turnover to decrease a little in the next 6 months 18% 8% 23% 14% 24% 16% 20% 18% 11% 22% Sales turnover to decrease a great deal in the next 6 months 5% 3% 8% 11% 3% 0% 5% 0% 8% 6% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 8. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 8 of 50 Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Sales turnover to increase greatly in the next 6 months 5% 7% 0% 10% 3% 8% 3% 11% 2% Sales turnover to increase a little in the next 6 months 27% 32% 32% 28% 18% 32% 24% 30% 25% Sales turnover to stay the same in the next 6 months 45% 35% 53% 38% 49% 50% 55% 41% 46% Sales turnover to decrease a little in the next 6 months 18% 19% 16% 20% 23% 8% 18% 11% 22% Sales turnover to decrease a great deal in the next 6 months 5% 7% 0% 5% 8% 3% 0% 8% 6% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 9. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 9 of 50 Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Sales turnover to increase greatly in the next 6 months 5% 6% 2% 4% 8% 0% Sales turnover to increase a little in the next 6 months 27% 28% 25% 27% 30% 22% Sales turnover to stay the same in the next 6 months 45% 44% 46% 45% 43% 61% Sales turnover to decrease a little in the next 6 months 18% 17% 22% 18% 17% 17% Sales turnover to decrease a great deal in the next 6 months 5% 5% 6% 6% 2% 0% Column total 100% 100% 100% 100% 100% 100%
  • 10. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 10 of 50 Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Sales turnover to increase greatly in the next 6 months 5% 12% 3% 0% 10% 0% 5% 5% 6% Sales turnover to increase a little in the next 6 months 27% 14% 27% 47% 33% 33% 34% 25% 18% Sales turnover to stay the same in the next 6 months 45% 52% 48% 32% 33% 31% 39% 51% 55% Sales turnover to decrease a little in the next 6 months 18% 17% 15% 21% 19% 31% 20% 15% 14% Sales turnover to decrease a great deal in the next 6 months 5% 5% 6% 0% 5% 5% 2% 3% 8% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 11. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 11 of 50 Does your company expect to hire more staff in 2010? Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Yes 15% 26% 13% 16% 19% 11% 25% 5% 16% 9% No 85% 74% 87% 84% 81% 89% 75% 95% 84% 91% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 12. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 12 of 50 Does your company expect to hire more staff in 2010? Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Yes 15% 18% 11% 25% 13% 26% 5% 16% 9% No 85% 82% 89% 75% 87% 74% 95% 84% 91% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 13. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 13 of 50 Does your company expect to hire more staff in 2010? Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Yes 15% 16% 9% 11% 28% 6% No 85% 84% 91% 89% 72% 94% Column total 100% 100% 100% 100% 100% 100%
  • 14. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 14 of 50 Does your company expect to hire more staff in 2010? Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Yes 15% 17% 16% 11% 26% 14% 17% 5% 10% No 85% 83% 84% 89% 74% 86% 83% 95% 90% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 15. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 15 of 50 If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Not difficult at all 44% 61% 44% 35% 46% 53% 48% 42% 49% 34% Difficult 32% 29% 28% 24% 41% 32% 33% 39% 32% 32% Very difficult 15% 8% 18% 24% 8% 5% 8% 13% 16% 22% Extreme difficulty – very unlikely to survive 7% 0% 10% 14% 5% 8% 8% 5% 3% 8% Not stated 2% 3% 0% 3% 0% 3% 5% 0% 0% 4% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 16. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 16 of 50 If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Not difficult at all 44% 41% 53% 48% 44% 61% 42% 49% 34% Difficult 32% 32% 32% 33% 28% 29% 39% 32% 32% Very difficult 15% 16% 5% 8% 18% 8% 13% 16% 22% Extreme difficulty – very unlikely to survive 7% 9% 8% 8% 10% 0% 5% 3% 8% Not stated 2% 1% 3% 5% 0% 3% 0% 0% 4% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 17. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 17 of 50 If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Not difficult at all 44% 47% 34% 43% 44% 56% Difficult 32% 32% 32% 32% 33% 33% Very difficult 15% 13% 22% 15% 15% 6% Extreme difficulty – very unlikely to survive 7% 7% 8% 8% 6% 0% Not stated 2% 2% 4% 2% 2% 6% Column total 100% 100% 100% 100% 100% 100%
  • 18. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 18 of 50 If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Not difficult at all 44% 36% 49% 63% 40% 36% 27% 49% 49% Difficult 32% 29% 28% 32% 31% 33% 46% 29% 37% Very difficult 15% 21% 15% 5% 17% 24% 12% 10% 10% Extreme difficulty – very unlikely to survive 7% 12% 6% 0% 5% 5% 10% 10% 4% Not stated 2% 2% 1% 0% 7% 2% 5% 2% 0% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 19. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 19 of 50 In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Very easy 2% 0% 3% 5% 3% 5% 0% 3% 0% 1% Easy 6% 13% 3% 11% 8% 3% 10% 3% 8% 3% Same as in previous times 37% 45% 41% 35% 30% 42% 40% 34% 51% 27% Difficult 26% 18% 18% 14% 27% 24% 33% 42% 16% 30% Very difficult 26% 21% 36% 35% 30% 11% 13% 13% 19% 37% Not stated 4% 3% 0% 0% 3% 16% 5% 5% 5% 1% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 20. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 20 of 50 In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Very easy 2% 4% 5% 0% 3% 0% 3% 0% 1% Easy 6% 9% 3% 10% 3% 13% 3% 8% 3% Same as in previous times 37% 32% 42% 40% 41% 45% 34% 51% 27% Difficult 26% 20% 24% 33% 18% 18% 42% 16% 30% Very difficult 26% 32% 11% 13% 36% 21% 13% 19% 37% Not stated 4% 1% 16% 5% 0% 3% 5% 5% 1% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 21. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 21 of 50 In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Very easy 2% 2% 1% 2% 0% 6% Easy 6% 7% 3% 7% 6% 0% Same as in previous times 37% 40% 27% 37% 39% 22% Difficult 26% 24% 30% 24% 29% 44% Very difficult 26% 22% 37% 26% 25% 28% Not stated 4% 5% 1% 5% 1% 0% Column total 100% 100% 100% 100% 100% 100%
  • 22. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 22 of 50 In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Very easy 2% 0% 3% 0% 5% 2% 5% 0% 0% Easy 6% 14% 6% 0% 2% 5% 2% 7% 8% Same as in previous times 37% 38% 35% 42% 45% 29% 37% 32% 41% Difficult 26% 24% 26% 32% 17% 29% 27% 31% 22% Very difficult 26% 21% 28% 16% 26% 36% 27% 25% 20% Not stated 4% 2% 1% 11% 5% 0% 2% 5% 10% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 23. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 23 of 50 Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Now a more competitive business 46% 42% 33% 46% 51% 42% 58% 32% 49% 53% Now a leaner business 42% 37% 33% 54% 43% 39% 45% 42% 27% 46% Greater awareness of individual customer’s needs 39% 47% 49% 38% 49% 37% 35% 29% 43% 34% Now a more efficient business 39% 34% 33% 30% 49% 45% 40% 37% 32% 44% New market or markets identified 26% 26% 23% 38% 24% 37% 23% 24% 22% 22% Reduced costs from some suppliers 21% 24% 8% 5% 16% 16% 23% 11% 16% 39% Developed a new product or service that appears to have long-term potential 18% 24% 10% 16% 22% 13% 28% 24% 14% 16%
  • 24. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 24 of 50 Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Now a more competitive business 46% 49% 42% 58% 33% 42% 32% 49% 53% Now a leaner business 42% 49% 39% 45% 33% 37% 42% 27% 46% Greater awareness of individual customer’s needs 39% 43% 37% 35% 49% 47% 29% 43% 34% Now a more efficient business 39% 39% 45% 40% 33% 34% 37% 32% 44% New market or markets identified 26% 31% 37% 23% 23% 26% 24% 22% 22% Reduced costs from some suppliers 21% 11% 16% 23% 8% 24% 11% 16% 39% Developed a new product or service that appears to have long-term potential 18% 19% 13% 28% 10% 24% 24% 14% 16%
  • 25. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 25 of 50 Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Now a more competitive business 46% 44% 53% 44% 53% 50% Now a leaner business 42% 40% 46% 41% 45% 33% Greater awareness of individual customer’s needs 39% 41% 34% 39% 40% 39% Now a more efficient business 39% 38% 44% 35% 52% 50% New market or markets identified 26% 27% 22% 23% 32% 33% Reduced costs from some suppliers 21% 15% 39% 20% 21% 33% Developed a new product or service that appears to have long-term potential 18% 19% 16% 19% 20% 0%
  • 26. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 26 of 50 Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Now a more competitive business 46% 55% 44% 47% 38% 43% 56% 59% 31% Now a leaner business 42% 55% 29% 53% 36% 40% 56% 56% 31% Greater awareness of individual customer’s needs 39% 45% 34% 42% 19% 36% 46% 53% 43% Now a more efficient business 39% 43% 35% 37% 31% 33% 44% 56% 33% New market or markets identified 26% 33% 25% 21% 14% 24% 37% 27% 24% Reduced costs from some suppliers 21% 21% 18% 5% 26% 31% 12% 31% 16% Developed a new product or service that appears to have long-term potential 18% 19% 18% 11% 14% 17% 29% 15% 18%
  • 27. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 27 of 50 What effect would an increase or increases in interest rates mean for your business? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Major problem 21% 13% 21% 38% 19% 13% 10% 26% 22% 23% Small problem 31% 37% 36% 27% 38% 26% 33% 16% 27% 35% No impact 37% 37% 28% 22% 32% 39% 50% 53% 32% 36% Small positive benefit 6% 11% 13% 11% 5% 5% 5% 5% 8% 2% Major positive benefit 1% 3% 0% 3% 0% 3% 0% 0% 3% 1% Don’t know 3% 0% 3% 0% 5% 13% 0% 0% 8% 2% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 28. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 28 of 50 What effect would an increase or increases in interest rates mean for your business? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Major problem 21% 28% 13% 10% 21% 13% 26% 22% 23% Small problem 31% 32% 26% 33% 36% 37% 16% 27% 35% No impact 37% 27% 39% 50% 28% 37% 53% 32% 36% Small positive benefit 6% 8% 5% 5% 13% 11% 5% 8% 2% Major positive benefit 1% 1% 3% 0% 0% 3% 0% 3% 1% Don’t know 3% 3% 13% 0% 3% 0% 0% 8% 2% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 29. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 29 of 50 What effect would an increase or increases in interest rates mean for your business? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Major problem 21% 20% 23% 20% 25% 17% Small problem 31% 30% 35% 31% 30% 44% No impact 37% 37% 36% 39% 31% 22% Small positive benefit 6% 8% 2% 6% 9% 6% Major positive benefit 1% 1% 1% 2% 0% 0% Don’t know 3% 4% 2% 3% 3% 11% Column total 100% 100% 100% 100% 100% 100%
  • 30. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 30 of 50 What effect would an increase or increases in interest rates mean for your business? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Major problem 21% 26% 16% 11% 7% 40% 22% 24% 20% Small problem 31% 36% 32% 32% 31% 31% 34% 34% 22% No impact 37% 36% 37% 47% 48% 19% 37% 32% 43% Small positive benefit 6% 2% 10% 0% 12% 7% 0% 3% 8% Major positive benefit 1% 0% 1% 5% 0% 0% 5% 2% 0% Don’t know 3% 0% 3% 5% 2% 2% 0% 5% 8% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 31. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 31 of 50 What would a rise in inflation mean for your business? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Major problem 20% 16% 23% 35% 14% 16% 13% 26% 24% 17% Small problem 45% 50% 36% 46% 54% 37% 53% 37% 41% 48% No impact 26% 32% 31% 16% 16% 29% 33% 29% 22% 26% Small positive benefit 3% 0% 5% 3% 3% 3% 0% 3% 5% 5% Major positive benefit 1% 0% 0% 0% 0% 5% 0% 3% 0% 1% Don’t know 5% 3% 5% 0% 14% 11% 3% 3% 5% 3% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 32. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 32 of 50 What would a rise in inflation mean for your business? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Major problem 20% 24% 16% 13% 23% 16% 26% 24% 17% Small problem 45% 50% 37% 53% 36% 50% 37% 41% 48% No impact 26% 16% 29% 33% 31% 32% 29% 22% 26% Small positive benefit 3% 3% 3% 0% 5% 0% 3% 5% 5% Major positive benefit 1% 0% 5% 0% 0% 0% 3% 0% 1% Don’t know 5% 7% 11% 3% 5% 3% 3% 5% 3% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 33. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 33 of 50 What would a rise in inflation mean for your business? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Major problem 20% 21% 17% 18% 29% 11% Small problem 45% 44% 48% 46% 39% 56% No impact 26% 26% 26% 28% 22% 17% Small positive benefit 3% 3% 5% 3% 2% 6% Major positive benefit 1% 1% 1% 1% 2% 0% Don’t know 5% 5% 3% 4% 6% 11% Column total 100% 100% 100% 100% 100% 100%
  • 34. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 34 of 50 What would a rise in inflation mean for your business? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Major problem 20% 31% 14% 0% 19% 36% 22% 20% 16% Small problem 45% 33% 38% 58% 48% 38% 51% 54% 53% No impact 26% 24% 36% 37% 31% 14% 24% 15% 22% Small positive benefit 3% 2% 5% 0% 0% 5% 0% 5% 2% Major positive benefit 1% 0% 2% 0% 0% 0% 2% 2% 0% Don’t know 5% 10% 5% 5% 2% 5% 0% 3% 8% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 35. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 35 of 50 In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Local government 52% 55% 41% 54% 59% 63% 50% 53% 49% 48% Overseas Aid 50% 53% 41% 54% 59% 68% 43% 61% 73% 32% Welfare 43% 32% 41% 51% 51% 39% 33% 45% 54% 43% Defence 31% 37% 31% 30% 24% 32% 30% 29% 24% 36% Equal cuts across the board (5% / 10% / 15% etc) 29% 21% 28% 22% 43% 29% 33% 34% 22% 29% Infrastructure/Transport 18% 16% 21% 11% 24% 18% 13% 21% 30% 17% Health 13% 16% 10% 14% 16% 13% 8% 21% 5% 12% Education 8% 3% 8% 8% 14% 11% 8% 13% 8% 5%
  • 36. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 36 of 50 In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Local government 52% 57% 63% 50% 41% 55% 53% 49% 48% Overseas Aid 50% 57% 68% 43% 41% 53% 61% 73% 32% Welfare 43% 51% 39% 33% 41% 32% 45% 54% 43% Defence 31% 27% 32% 30% 31% 37% 29% 24% 36% Equal cuts across the board (5% / 10% / 15% etc) 29% 32% 29% 33% 28% 21% 34% 22% 29% Infrastructure/Transport 18% 18% 18% 13% 21% 16% 21% 30% 17% Health 13% 15% 13% 8% 10% 16% 21% 5% 12% Education 8% 11% 11% 8% 8% 3% 13% 8% 5%
  • 37. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 37 of 50 In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Local government 52% 53% 48% 52% 55% 33% Overseas Aid 50% 56% 32% 51% 49% 33% Welfare 43% 43% 43% 43% 46% 28% Defence 31% 30% 36% 31% 33% 22% Equal cuts across the board (5% / 10% / 15% etc) 29% 29% 29% 29% 26% 44% Infrastructure/Transport 18% 19% 17% 20% 17% 6% Health 13% 13% 12% 14% 9% 11% Education 8% 9% 5% 8% 8% 6%
  • 38. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 38 of 50 In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Local government 52% 48% 56% 53% 45% 57% 61% 53% 37% Overseas Aid 50% 60% 41% 63% 31% 48% 63% 56% 59% Welfare 43% 50% 42% 58% 33% 38% 49% 42% 43% Defence 31% 31% 33% 26% 24% 31% 34% 42% 22% Equal cuts across the board (5% / 10% / 15% etc) 29% 24% 29% 32% 26% 36% 29% 34% 24% Infrastructure/Transport 18% 12% 17% 37% 14% 21% 15% 20% 22% Health 13% 7% 19% 21% 14% 7% 7% 14% 6% Education 8% 10% 12% 11% 2% 5% 7% 5% 8%
  • 39. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 39 of 50 And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Tobacco and Alcohol Taxes 56% 50% 51% 76% 54% 50% 55% 53% 62% 54% Income Tax 30% 47% 36% 24% 22% 37% 35% 24% 43% 20% VAT 29% 47% 31% 41% 30% 45% 33% 34% 35% 7% Capital Gains Tax 23% 32% 26% 24% 27% 13% 13% 29% 32% 20% Corporation Tax 20% 16% 15% 19% 16% 21% 25% 16% 22% 24% Inheritance Tax 19% 34% 13% 24% 8% 13% 13% 18% 19% 22% National Insurance 19% 21% 18% 16% 14% 18% 25% 21% 30% 14% Stamp Duty 12% 13% 3% 14% 11% 13% 13% 18% 19% 9% Petrol and Diesel fuel duty 11% 13% 13% 11% 8% 13% 10% 16% 8% 11%
  • 40. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 40 of 50 And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Tobacco and Alcohol Taxes 56% 65% 50% 55% 51% 50% 53% 62% 54% Income Tax 30% 23% 37% 35% 36% 47% 24% 43% 20% VAT 29% 35% 45% 33% 31% 47% 34% 35% 7% Capital Gains Tax 23% 26% 13% 13% 26% 32% 29% 32% 20% Corporation Tax 20% 18% 21% 25% 15% 16% 16% 22% 24% Inheritance Tax 19% 16% 13% 13% 13% 34% 18% 19% 22% National Insurance 19% 15% 18% 25% 18% 21% 21% 30% 14% Stamp Duty 12% 12% 13% 13% 3% 13% 18% 19% 9% Petrol and Diesel fuel duty 11% 9% 13% 10% 13% 13% 16% 8% 11%
  • 41. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 41 of 50 And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Tobacco and Alcohol Taxes 56% 56% 54% 54% 66% 39% Income Tax 30% 34% 20% 30% 31% 28% VAT 29% 37% 7% 29% 29% 33% Capital Gains Tax 23% 24% 20% 22% 25% 28% Corporation Tax 20% 19% 24% 20% 22% 11% Inheritance Tax 19% 18% 22% 18% 22% 17% National Insurance 19% 20% 14% 19% 17% 28% Stamp Duty 12% 13% 9% 11% 15% 17% Petrol and Diesel fuel duty 11% 12% 11% 10% 13% 22%
  • 42. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 42 of 50 And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Tobacco and Alcohol Taxes 56% 60% 56% 74% 40% 52% 56% 58% 57% Income Tax 30% 29% 35% 16% 33% 29% 17% 29% 35% VAT 29% 45% 30% 32% 24% 19% 46% 22% 22% Capital Gains Tax 23% 26% 25% 21% 21% 26% 17% 15% 29% Corporation Tax 20% 19% 23% 16% 14% 31% 15% 24% 12% Inheritance Tax 19% 24% 23% 16% 10% 21% 15% 20% 14% National Insurance 19% 21% 19% 11% 19% 26% 10% 22% 16% Stamp Duty 12% 10% 7% 21% 5% 26% 17% 12% 10% Petrol and Diesel fuel duty 11% 17% 12% 21% 17% 7% 2% 7% 14%
  • 43. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 43 of 50 Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) It would present us with major problems 6% 5% 8% 0% 11% 8% 5% 5% 3% 9% It would present us with some problems 15% 8% 15% 16% 14% 16% 20% 8% 14% 17% It would have no overall effect 68% 84% 67% 73% 57% 53% 65% 79% 65% 68% It would be likely to help our business a little 5% 0% 3% 0% 8% 8% 5% 5% 5% 6% It would be likely to help our business a great deal 0.2% 0% 0% 0% 3% 0% 0% 0% 0% 0% Don’t know / other 6% 3% 8% 8% 8% 16% 5% 3% 14% 1% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 44. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 44 of 50 Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) It would present us with major problems 6% 5% 8% 5% 8% 5% 5% 3% 9% It would present us with some problems 15% 15% 16% 20% 15% 8% 8% 14% 17% It would have no overall effect 68% 65% 53% 65% 67% 84% 79% 65% 68% It would be likely to help our business a little 5% 4% 8% 5% 3% 0% 5% 5% 6% It would be likely to help our business a great deal 0.2% 1% 0% 0% 0% 0% 0% 0% 0% Don’t know / other 6% 8% 16% 5% 8% 3% 3% 14% 1% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 45. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 45 of 50 Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) It would present us with major problems 6% 6% 9% 8% 2% 6% It would present us with some problems 15% 14% 17% 14% 17% 11% It would have no overall effect 68% 68% 68% 69% 63% 61% It would be likely to help our business a little 5% 4% 6% 3% 7% 17% It would be likely to help our business a great deal 0.2% 0% 0% 0% 1% 0% Don’t know / other 6% 8% 1% 5% 9% 6% Column total 100% 100% 100% 100% 100% 100%
  • 46. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 46 of 50 Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) It would present us with major problems 6% 2% 7% 0% 2% 12% 5% 7% 10% It would present us with some problems 15% 12% 6% 11% 17% 19% 17% 29% 12% It would have no overall effect 68% 71% 78% 74% 74% 60% 63% 51% 65% It would be likely to help our business a little 5% 7% 4% 5% 0% 5% 5% 8% 4% It would be likely to help our business a great deal 0.2% 2% 0% 0% 0% 0% 0% 0% 0% Don’t know / other 6% 2% 5% 11% 7% 5% 10% 5% 10% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 47. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 47 of 50 Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all Region All Eastern England London & South East Midlands & Wales North midlands North West Scotland South West Yorks/ N. East Southern Ireland (406) (38) (39) (37) (37) (38) (40) (38) (37) (102) Better for our business if the Euro were to continue 23% 11% 13% 5% 14% 21% 25% 13% 11% 51% Neither option would have any effect on our business 45% 55% 51% 59% 46% 42% 38% 61% 41% 31% Better for our business if countries reverted to having their own currencies 18% 26% 18% 22% 24% 13% 20% 21% 27% 10% Don’t know 14% 8% 18% 14% 16% 24% 18% 5% 22% 8% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 48. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 48 of 50 Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all Region II All Midlands & Wales North West Scotland London & South East Eastern England South west Yorkshire or the North East Southern Ireland (406) (74) (38) (40) (39) (38) (38) (37) (102) Better for our business if the Euro were to continue 23% 9% 21% 25% 13% 11% 13% 11% 51% Neither option would have any effect on our business 45% 53% 42% 38% 51% 55% 61% 41% 31% Better for our business if countries reverted to having their own currencies 18% 23% 13% 20% 18% 26% 21% 27% 10% Don’t know 14% 15% 24% 18% 18% 8% 5% 22% 8% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
  • 49. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 49 of 50 Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all Country No of Employees All UK Ireland 1 to 9 10 to 49 50 to 249 (406) (304) (102) (301) (87) (18) Better for our business if the Euro were to continue 23% 14% 51% 24% 22% 28% Neither option would have any effect on our business 45% 49% 31% 46% 43% 28% Better for our business if countries reverted to having their own currencies 18% 21% 10% 17% 20% 39% Don’t know 14% 15% 8% 13% 16% 6% Column total 100% 100% 100% 100% 100% 100%
  • 50. Extracts from QBE SME Research June 2010 PRESS RELEASE Page 50 of 50 Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all Main business sector All Building / const. Business / prof. Financial services IT, media/ printing Leisure / catering Manufng / Eng Retail & Distn. Other (406) (42) (110) (19) (42) (42) (41) (59) (51) Better for our business if the Euro were to continue 23% 12% 19% 32% 38% 26% 22% 39% 8% Neither option would have any effect on our business 45% 48% 60% 47% 29% 38% 37% 32% 47% Better for our business if countries reverted to having their own currencies 18% 31% 11% 0% 17% 29% 22% 15% 25% Don’t know 14% 10% 10% 21% 17% 7% 20% 14% 20% Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%