AI adoption and geopolitical developments remain key influences on both the opportunities and threats identified by Bellwether companies.

Geopolitical uncertainty, supply-chain disruption and higher input costs continue to weigh on confidence, with the war in the Middle East and the associated economic pressures it has created often cited as a threat to the outlook. Against this backdrop, some respondents are prioritising resilience, consolidation and operational efficiency over expansion. UK government policy, and concerns of rises in businesses’ taxation burdens, were also