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.
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
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.
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.
The information provided is 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 does not warrant that adherence to, or compliance with, any recommendations, best practices, checklists, or guidelines will result in a particular outcome. Furthermore, laws, regulations, standards, guidance and codes may change from time to time, and you should always refer to the most current requirements and take specific advice when dealing with specific situations. In no event will Travelers be liable in tort, contract or otherwise to anyone who has access to or uses this information.
Travelers operates through several underwriting entities in the UK and Europe. Please consult your policy documentation or visit the websites below for full information.
More insights & expertise
Cyber Security Resources
Social Engineering Attacks Outgrow Emails
Social engineering attacks are evolving worldwide, moving beyond email to voice phishing, deepfakes, and collaboration tools. Learn how businesses can strengthen cyber defences.
Risk Management Resources
Demystifying Business Interruption Insurance for Offices
Discover how business interruption insurance helps office-based firms protect income, maintain continuity and navigate claims after an unexpected interruption.
Technology Resources
Managing Risks in Technology M&A: A Broker’s Guide
Mergers and acquisitions in the tech sector bring major opportunities and critical risk exposures. Explore how tech businesses can manage cyber threats, regulatory gaps, and cultural integration challenges while building resilience through proactive risk management and insurance planning.
