BCC reduces UK economic growth predictions

Date: 31/05/2011

Revenue share numbers could be a useful purchase for businesses given current predications regarding the UK's economic climate.

The British Chambers of Commerce (BCC) has reduced its growth expectations for 2011 and 2012.

While gross domestic product for the current year has been lowered from 1.4 per cent to 1.3 per cent, the predicted figure for 2012 has been revised down from 2.3 per cent to 2.2 per cent.

David Frost, director-general at the BCC, said that although British businesses are "willing and able" to support the economy, the government must do more to help.

"This forecast suggests that the economy is still facing difficult challenges in the years ahead," he stated.

Revenue share numbers could therefore be a useful purchase for enterprises, as they allow them to make money on every call they receive.

A boost was offered to companies last week, when chief executive of the Business Growth Fund Stephen Welton explained on the BBC's Wake Up to Money podcast that his organisation will be awarding between £2 million and £10 million to certain firms in return for a minority stake.