- Wednesday, 30 December 2009IVA advice may be sought following predictions that employees are set to face another difficult year.
Figures from the British Chambers of Commerce’s (BCC) latest Monthly Business Survey indicate that 63 per cent of businesses are planning wage freezes or pay cuts next year and 18 per cent are looking to remove benefits such as bonuses.
Commenting on the survey, BCC director general David Frost said it was clear that 2010 was going to be "crucial" for the UK’s economy.
"The private sector must be allowed to generate investment, growth and jobs by reducing the tax and red tape burden, support and incentives must be provided where needed, and the economy must be rebalanced away from debt and the public sector," he said.
Retailers are also preparing for a tough year, despite record sales over the Christmas break.
The British Retail Consortium's (BRC's) 2010 Concerns Snapshot Survey revealed that weak consumer demand topped retailers concerns, with 22 per cent citing it as their main worry for 2010.
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