UK Business Survey: Economy Confidence, Risk and Growth
Why Travelers commissioned this research
Remember VUCA? The idea that volatility, uncertainty, complexity and ambiguity are the defining challenges for 21st century decision-makers seemed apt in the early 2000s. Today’s global business environment makes that era seem positively stable.
That’s why we conducted a UK and Ireland mid‑market business survey, asking C-suite decision-makers what’s worrying them, how they’re looking at risk, how they’ve been affected by rapidly evolving threats, and what’s on their strategic agenda.
These businesses are the engine-room of their economies, generating hundreds of billions in revenues and employing more than seven million people. By unpicking the matrix of interconnected risks, we can let decision-makers feel more confident to adapt and exploit change.
Download the full report
Download the full confidence survey to read our conclusions – drawn from the input of decision-makers themselves, an analysis of UK business growth confidence, and reactions from Travelers’ subject experts.
What UK and Ireland mid-market businesses are telling us
To gather these mid-market business risk insights, we commissioned YouGov to poll decision-makers at organisations with revenue from €/£20m to €/£500m, and between 50 and 500 employees.
Confidence in the economy and market conditions
While 36% have declining confidence in the economy as a whole, far fewer (just 18%) are getting more downbeat about their own businesses. The market is tough, but businesses back themselves to weather the storm.
Risk awareness and preparedness
88% of them think the risk environment is stable or worsening. But for most respondents, there isn’t one standout risk; the economy, profitability, people, cybersecurity, supply chain and agility are all major factors. Critically, they intersect and are interdependent. It’s a matrix of risk.
Appetite for investment and growth
A section of the report focuses on cyber for one simple reason: digital transformation has the potential to increase efficiency, boost agility, and open new avenues for growth for almost every type of business. But it’s also a central node in the risk matrix. Helping businesses address cyber threats goes beyond shoring up IT resilience – it mitigates risks around employees, supply chain, profitability and growth.
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A red umbrella logo. Travelers. Text: How can we energise business confidence?
88% of decision-makers tell us risk is static or worsening. A pie chart fills in red.
And the risks vary from the economy to technology and beyond. Profitability 79%, skills slash people 66%, compliance 65%, cybersecurity 56%, supply chain 54%.
These risks are interconnected, creating a matrix. Red dots are connected by lines.
For example, a cyberattack can disrupt your supply chain, constrain financing options, and result in contractual disputes.
Just 17% think insurance market is very good at helping them manage risk. 40% good, 42% neutral or negative.
This is where brokers can add real value. Travelers is working with brokers to support resilience and growth. The red dots turn yellow.
Together we can help businesses unpick the risk matrix. Prioritise risk, understand exposure, rebuild confidence.
So companies can focus on growing and driving the economy. Birds fly over city buildings.
Read the full report.
TRAVELERS. This video is provided for general informational purposes only. It does not, and it is not intended to, provide legal, technical or other professional advice, nor does it amend, or otherwise affect, the provisions or coverages of any insurance policy issued by Travelers. Travelers operates through several underwriting entities in the UK and Europe. Please consult your policy documentation or visit the websites below for full information. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries. travelers.co.uk, travelers.ie
Why these insights matter for brokers
Our conclusion is that client perceptions of risk mitigation are changing. The survey reinforces the idea that insurance has moved beyond simply covering possible financial losses. Today, it’s about a suite of services that unpicks risks within that matrix, freeing up decision-makers to exploit opportunities. It’s not about selling cover; it’s about boosting confidence.
The report is just a snapshot, and in most cases simply confirms what brokers and their clients already know. Its value is in reassuring clients that their experience is widely felt. The aim is to make that VUCA world seem more manageable. Insurance products can act as ‘firebreaks’, breaking inter-risk connections and making non-insurables seem more manageable.
Decision-makers at organisations with revenue from €/£20m to €/£500m, and between 50 and 500 employees were surveyed
36% have declining confidence in the economy as a whole
18% are getting more downbeat about their own businesses
88% think the risk environment is static or worsening
Travelers aims to go beyond a transactional product pitch for this key market. Cyber is a great example: covering financial losses directly attributable to a hack is not enough. When cover includes readiness evaluation, incident response, systems remediation, supply chain protection – and even counselling for people potentially affected by an attack – it gives decision-makers the confidence to make critical strategic decisions. We want to provide long-term, holistic solutions, not fire-and-forget transactions.
Travelers operates through several underwriting entities in the UK and Europe. Please consult your policy documentation or review our Regulatory Statement for more information.
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