Recent research from business services firm BDO LLP predicted that companies will suffer from high levels of uncertainty, risk and complexity in the years to 2015, as the economy shifts from the traditional industrial model to the digital future.
Commenting on the report, Tony Dolphin, senior economist for the Institute for Public Policy Research, said it seems 'reasonable' to expect confidence to take five years to return.
'This year growth could be weak. Economies do recover and grow. It will take a bit of time but most economists think that we will get back to normal growth,' he added.
Mr Dolphin also claimed that the UK economy will be 'looking recognisable' within several years, which should provide companies with some comfort and confidence.
This week, prime minister Gordon Brown announced that £200 million from the UK Innovation Investment Fund will be poured into the advanced manufacturing, digital and life sciences sectors to stimulate growth and job creation.
Commenting on the report, Tony Dolphin, senior economist for the Institute for Public Policy Research, said it seems 'reasonable' to expect confidence to take five years to return.
'This year growth could be weak. Economies do recover and grow. It will take a bit of time but most economists think that we will get back to normal growth,' he added.
Mr Dolphin also claimed that the UK economy will be 'looking recognisable' within several years, which should provide companies with some comfort and confidence.
This week, prime minister Gordon Brown announced that £200 million from the UK Innovation Investment Fund will be poured into the advanced manufacturing, digital and life sciences sectors to stimulate growth and job creation.
