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Data_Extract-Jul-2010 QBE Business Sentiment Survey
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Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 1 of 50
QBE’s FOURTH BUSINESS SENTIMENT SURVEY
DATA EXTRACT
London, 15 July 2010
About QBE’s Fourth Business Sentiment Survey
Data were collected by The Survey Shop in June 2010. A total of 406 interviews were
conducted by telephone using quota sampling. Respondents were qualified as owners,
managers and decision-makers, and the data are representative of SMEs in UK and
Ireland. The data are representative of SMEs in the UK and Ireland, grouped by region
(East, London, Midlands & Wales, North Midlands, North West, Scotland, South West,
Yorkshire & North East and Ireland) and by number of employees (Up to 10, 10 to 49 and
50 to 250).
About QBE
Founded in Australia over 100 years ago, QBE Insurance Group is a specialist business
insurer, now operating out of 48 countries across the globe. We have been active in the UK
since 1904, orginally within the marine insurance market, but branching out more recently to
offer commercial insurance to companies across the UK. At the end of 2009, the Group’s
turnover was over £7bn, making it one of the largest insurance firms in the UK.
We provide insurance for a broad range of business categories, including property, motor
(commercial, bus and fleet), employers’, public and product liability insurance,
professional indemnity, leisure and sport, marine, energy, aviation, and specialty
insurance, including bloodstock.
In the UK QBE is rated a leading insurer for claims service,* scored above average in all
five key measures of insurer performance**: and best insurer for Commercial Motor***
* December 2009, source: Gracechurch Survey
**Source: Insurance Times Commercial Broker Survey 2009
***Source: Post Magazine 360 Commercial Broker Survey 2009
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 2 of 50
QBE is proud to be the official insurance partner of Premiership Rugby and England.
These partnerships with two elite properties in the sport will allow QBE’s brand to
continue to develop and business to grow
-ENDS-
For further information please contact:
Sandra Villanueva, QBE European Operations Tel:+44 20 7105 4428; email [email protected]
Samantha Whiteley, Haggie Financial Tel: + 44 20 7417 8989; email [email protected]
Henny Breakwell, Haggie Financial Tel: +44 20 7417 8989 email: [email protected]
Follow us on Twitter @ http://twitter.com/QBEeo
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 3 of 50
How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South west
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
6 months 1% 0% 0% 5% 0% 0% 3% 3% 0% 1%
12 months 13% 21% 23% 16% 5% 3% 8% 8% 22% 12%
18 months 12% 13% 8% 5% 19% 18% 10% 13% 11% 10%
2 years 60% 58% 46% 62% 59% 66% 63% 71% 41% 65%
Don’t know 15% 8% 23% 11% 16% 13% 18% 5% 27% 13%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 4 of 50
How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all
Region II
All
Midlands & Wales
North West Scotland London & South East
Eastern England
South west Yorkshire
or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
6 months 1% 3% 0% 3% 0% 0% 3% 0% 1%
12 months 13% 11% 3% 8% 23% 21% 8% 22% 12%
18 months 12% 12% 18% 10% 8% 13% 13% 11% 10%
2 years 60% 61% 66% 63% 46% 58% 71% 41% 65%
Don’t know 15% 14% 13% 18% 23% 8% 5% 27% 13%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 5 of 50
How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
6 months 1% 1% 1% 1% 2% 0%
12 months 13% 13% 12% 12% 18% 0%
18 months 12% 12% 10% 11% 10% 28%
2 years 60% 58% 65% 62% 55% 44%
Don’t know 15% 15% 13% 14% 14% 28%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 6 of 50
How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
6 months 1% 2% 1% 5% 2% 0% 0% 0% 2%
12 months 13% 7% 13% 11% 17% 7% 20% 15% 12%
18 months 12% 14% 13% 21% 10% 5% 27% 7% 4%
2 years 60% 48% 65% 53% 67% 60% 41% 61% 71%
Don’t know 15% 29% 9% 11% 5% 29% 12% 17% 12%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 7 of 50
Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South west
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Sales turnover to increase greatly in the next 6 months
5% 8% 3% 8% 5% 0% 10% 3% 11% 2%
Sales turnover to increase a little in the next 6 months
27% 32% 18% 32% 32% 32% 28% 24% 30% 25%
Sales turnover to stay the same in the next 6 months
45% 50% 49% 35% 35% 53% 38% 55% 41% 46%
Sales turnover to decrease a little in the next 6 months
18% 8% 23% 14% 24% 16% 20% 18% 11% 22%
Sales turnover to decrease a great deal in the next 6 months
5% 3% 8% 11% 3% 0% 5% 0% 8% 6%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 8 of 50
Following the down-turn, how do you expect your business to perform in the next 6 months? (one)
Base = all Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Sales turnover to increase greatly in the next 6 months
5% 7% 0% 10% 3% 8% 3% 11% 2%
Sales turnover to increase a little in the next 6 months
27% 32% 32% 28% 18% 32% 24% 30% 25%
Sales turnover to stay the same in the next 6 months
45% 35% 53% 38% 49% 50% 55% 41% 46%
Sales turnover to decrease a little in the next 6 months
18% 19% 16% 20% 23% 8% 18% 11% 22%
Sales turnover to decrease a great deal in the next 6 months
5% 7% 0% 5% 8% 3% 0% 8% 6%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 9 of 50
Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Sales turnover to increase greatly in the next 6 months
5% 6% 2% 4% 8% 0%
Sales turnover to increase a little in the next 6 months
27% 28% 25% 27% 30% 22%
Sales turnover to stay the same in the next 6 months
45% 44% 46% 45% 43% 61%
Sales turnover to decrease a little in the next 6 months
18% 17% 22% 18% 17% 17%
Sales turnover to decrease a great deal in the next 6 months
5% 5% 6% 6% 2% 0%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 10 of 50
Following the down-turn, how do you expect your business to perform in the next 6 months? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Sales turnover to increase greatly in the next 6 months
5% 12% 3% 0% 10% 0% 5% 5% 6%
Sales turnover to increase a little in the next 6 months
27% 14% 27% 47% 33% 33% 34% 25% 18%
Sales turnover to stay the same in the next 6 months
45% 52% 48% 32% 33% 31% 39% 51% 55%
Sales turnover to decrease a little in the next 6 months
18% 17% 15% 21% 19% 31% 20% 15% 14%
Sales turnover to decrease a great deal in the next 6 months
5% 5% 6% 0% 5% 5% 2% 3% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 11 of 50
Does your company expect to hire more staff in 2010? Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Yes 15% 26% 13% 16% 19% 11% 25% 5% 16% 9%
No 85% 74% 87% 84% 81% 89% 75% 95% 84% 91%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 12 of 50
Does your company expect to hire more staff in 2010? Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Yes 15% 18% 11% 25% 13% 26% 5% 16% 9%
No 85% 82% 89% 75% 87% 74% 95% 84% 91%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 13 of 50
Does your company expect to hire more staff in 2010? Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Yes 15% 16% 9% 11% 28% 6%
No 85% 84% 91% 89% 72% 94%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 14 of 50
Does your company expect to hire more staff in 2010? Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Yes 15% 17% 16% 11% 26% 14% 17% 5% 10%
No 85% 83% 84% 89% 74% 86% 83% 95% 90%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 15 of 50
If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one)
Base = all Region
All
Eastern England
London & South
East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Not difficult at all 44% 61% 44% 35% 46% 53% 48% 42% 49% 34%
Difficult 32% 29% 28% 24% 41% 32% 33% 39% 32% 32%
Very difficult 15% 8% 18% 24% 8% 5% 8% 13% 16% 22%
Extreme difficulty – very unlikely to survive
7% 0% 10% 14% 5% 8% 8% 5% 3% 8%
Not stated 2% 3% 0% 3% 0% 3% 5% 0% 0% 4%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 16 of 50
If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one)
Base = all Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Not difficult at all 44% 41% 53% 48% 44% 61% 42% 49% 34%
Difficult 32% 32% 32% 33% 28% 29% 39% 32% 32%
Very difficult 15% 16% 5% 8% 18% 8% 13% 16% 22%
Extreme difficulty – very unlikely to survive
7% 9% 8% 8% 10% 0% 5% 3% 8%
Not stated 2% 1% 3% 5% 0% 3% 0% 0% 4%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 17 of 50
If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one)
Base = all Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Not difficult at all 44% 47% 34% 43% 44% 56%
Difficult 32% 32% 32% 32% 33% 33%
Very difficult 15% 13% 22% 15% 15% 6%
Extreme difficulty – very unlikely to survive
7% 7% 8% 8% 6% 0%
Not stated 2% 2% 4% 2% 2% 6%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 18 of 50
If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to survive? (one)
Base = all Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Not difficult at all 44% 36% 49% 63% 40% 36% 27% 49% 49%
Difficult 32% 29% 28% 32% 31% 33% 46% 29% 37%
Very difficult 15% 21% 15% 5% 17% 24% 12% 10% 10%
Extreme difficulty – very unlikely to survive
7% 12% 6% 0% 5% 5% 10% 10% 4%
Not stated 2% 2% 1% 0% 7% 2% 5% 2% 0%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 19 of 50
In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all
Region
All
Eastern England
London & South
East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Very easy 2% 0% 3% 5% 3% 5% 0% 3% 0% 1%
Easy 6% 13% 3% 11% 8% 3% 10% 3% 8% 3%
Same as in previous times
37% 45% 41% 35% 30% 42% 40% 34% 51% 27%
Difficult 26% 18% 18% 14% 27% 24% 33% 42% 16% 30%
Very difficult 26% 21% 36% 35% 30% 11% 13% 13% 19% 37%
Not stated 4% 3% 0% 0% 3% 16% 5% 5% 5% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 20 of 50
In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Very easy 2% 4% 5% 0% 3% 0% 3% 0% 1%
Easy 6% 9% 3% 10% 3% 13% 3% 8% 3%
Same as in previous times 37% 32% 42% 40% 41% 45% 34% 51% 27%
Difficult 26% 20% 24% 33% 18% 18% 42% 16% 30%
Very difficult 26% 32% 11% 13% 36% 21% 13% 19% 37%
Not stated 4% 1% 16% 5% 0% 3% 5% 5% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 21 of 50
In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Very easy 2% 2% 1% 2% 0% 6%
Easy 6% 7% 3% 7% 6% 0%
Same as in previous times 37% 40% 27% 37% 39% 22%
Difficult 26% 24% 30% 24% 29% 44%
Very difficult 26% 22% 37% 26% 25% 28%
Not stated 4% 5% 1% 5% 1% 0%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 22 of 50
In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Very easy 2% 0% 3% 0% 5% 2% 5% 0% 0%
Easy 6% 14% 6% 0% 2% 5% 2% 7% 8%
Same as in previous times 37% 38% 35% 42% 45% 29% 37% 32% 41%
Difficult 26% 24% 26% 32% 17% 29% 27% 31% 22%
Very difficult 26% 21% 28% 16% 26% 36% 27% 25% 20%
Not stated 4% 2% 1% 11% 5% 0% 2% 5% 10%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 23 of 50
Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Now a more competitive business
46% 42% 33% 46% 51% 42% 58% 32% 49% 53%
Now a leaner business 42% 37% 33% 54% 43% 39% 45% 42% 27% 46%
Greater awareness of individual customer’s needs
39% 47% 49% 38% 49% 37% 35% 29% 43% 34%
Now a more efficient business 39% 34% 33% 30% 49% 45% 40% 37% 32% 44%
New market or markets identified
26% 26% 23% 38% 24% 37% 23% 24% 22% 22%
Reduced costs from some suppliers
21% 24% 8% 5% 16% 16% 23% 11% 16% 39%
Developed a new product or service that appears to have long-term potential
18% 24% 10% 16% 22% 13% 28% 24% 14% 16%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 24 of 50
Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Now a more competitive business
46% 49% 42% 58% 33% 42% 32% 49% 53%
Now a leaner business 42% 49% 39% 45% 33% 37% 42% 27% 46%
Greater awareness of individual customer’s needs
39% 43% 37% 35% 49% 47% 29% 43% 34%
Now a more efficient business 39% 39% 45% 40% 33% 34% 37% 32% 44%
New market or markets identified
26% 31% 37% 23% 23% 26% 24% 22% 22%
Reduced costs from some suppliers
21% 11% 16% 23% 8% 24% 11% 16% 39%
Developed a new product or service that appears to have long-term potential
18% 19% 13% 28% 10% 24% 24% 14% 16%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 25 of 50
Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Now a more competitive business
46% 44% 53% 44% 53% 50%
Now a leaner business 42% 40% 46% 41% 45% 33%
Greater awareness of individual customer’s needs
39% 41% 34% 39% 40% 39%
Now a more efficient business 39% 38% 44% 35% 52% 50%
New market or markets identified
26% 27% 22% 23% 32% 33%
Reduced costs from some suppliers
21% 15% 39% 20% 21% 33%
Developed a new product or service that appears to have long-term potential
18% 19% 16% 19% 20% 0%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 26 of 50
Which of the following would you say appear to have been the benefits of having experienced the downturn? (any) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Now a more competitive business
46% 55% 44% 47% 38% 43% 56% 59% 31%
Now a leaner business 42% 55% 29% 53% 36% 40% 56% 56% 31%
Greater awareness of individual customer’s needs
39% 45% 34% 42% 19% 36% 46% 53% 43%
Now a more efficient business 39% 43% 35% 37% 31% 33% 44% 56% 33%
New market or markets identified
26% 33% 25% 21% 14% 24% 37% 27% 24%
Reduced costs from some suppliers
21% 21% 18% 5% 26% 31% 12% 31% 16%
Developed a new product or service that appears to have long-term potential
18% 19% 18% 11% 14% 17% 29% 15% 18%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 27 of 50
What effect would an increase or increases in interest rates mean for your business? (one) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Major problem 21% 13% 21% 38% 19% 13% 10% 26% 22% 23%
Small problem 31% 37% 36% 27% 38% 26% 33% 16% 27% 35%
No impact 37% 37% 28% 22% 32% 39% 50% 53% 32% 36%
Small positive benefit 6% 11% 13% 11% 5% 5% 5% 5% 8% 2%
Major positive benefit 1% 3% 0% 3% 0% 3% 0% 0% 3% 1%
Don’t know 3% 0% 3% 0% 5% 13% 0% 0% 8% 2%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 28 of 50
What effect would an increase or increases in interest rates mean for your business? (one) Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Major problem 21% 28% 13% 10% 21% 13% 26% 22% 23%
Small problem 31% 32% 26% 33% 36% 37% 16% 27% 35%
No impact 37% 27% 39% 50% 28% 37% 53% 32% 36%
Small positive benefit 6% 8% 5% 5% 13% 11% 5% 8% 2%
Major positive benefit 1% 1% 3% 0% 0% 3% 0% 3% 1%
Don’t know 3% 3% 13% 0% 3% 0% 0% 8% 2%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 29 of 50
What effect would an increase or increases in interest rates mean for your business? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Major problem 21% 20% 23% 20% 25% 17%
Small problem 31% 30% 35% 31% 30% 44%
No impact 37% 37% 36% 39% 31% 22%
Small positive benefit 6% 8% 2% 6% 9% 6%
Major positive benefit 1% 1% 1% 2% 0% 0%
Don’t know 3% 4% 2% 3% 3% 11%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 30 of 50
What effect would an increase or increases in interest rates mean for your business? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Major problem 21% 26% 16% 11% 7% 40% 22% 24% 20%
Small problem 31% 36% 32% 32% 31% 31% 34% 34% 22%
No impact 37% 36% 37% 47% 48% 19% 37% 32% 43%
Small positive benefit 6% 2% 10% 0% 12% 7% 0% 3% 8%
Major positive benefit 1% 0% 1% 5% 0% 0% 5% 2% 0%
Don’t know 3% 0% 3% 5% 2% 2% 0% 5% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 31 of 50
What would a rise in inflation mean for your business? (one) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Major problem 20% 16% 23% 35% 14% 16% 13% 26% 24% 17%
Small problem 45% 50% 36% 46% 54% 37% 53% 37% 41% 48%
No impact 26% 32% 31% 16% 16% 29% 33% 29% 22% 26%
Small positive benefit 3% 0% 5% 3% 3% 3% 0% 3% 5% 5%
Major positive benefit 1% 0% 0% 0% 0% 5% 0% 3% 0% 1%
Don’t know 5% 3% 5% 0% 14% 11% 3% 3% 5% 3%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 32 of 50
What would a rise in inflation mean for your business? (one) Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Major problem 20% 24% 16% 13% 23% 16% 26% 24% 17%
Small problem 45% 50% 37% 53% 36% 50% 37% 41% 48%
No impact 26% 16% 29% 33% 31% 32% 29% 22% 26%
Small positive benefit 3% 3% 3% 0% 5% 0% 3% 5% 5%
Major positive benefit 1% 0% 5% 0% 0% 0% 3% 0% 1%
Don’t know 5% 7% 11% 3% 5% 3% 3% 5% 3%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 33 of 50
What would a rise in inflation mean for your business? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Major problem 20% 21% 17% 18% 29% 11%
Small problem 45% 44% 48% 46% 39% 56%
No impact 26% 26% 26% 28% 22% 17%
Small positive benefit 3% 3% 5% 3% 2% 6%
Major positive benefit 1% 1% 1% 1% 2% 0%
Don’t know 5% 5% 3% 4% 6% 11%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 34 of 50
What would a rise in inflation mean for your business? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Major problem 20% 31% 14% 0% 19% 36% 22% 20% 16%
Small problem 45% 33% 38% 58% 48% 38% 51% 54% 53%
No impact 26% 24% 36% 37% 31% 14% 24% 15% 22%
Small positive benefit 3% 2% 5% 0% 0% 5% 0% 5% 2%
Major positive benefit 1% 0% 2% 0% 0% 0% 2% 2% 0%
Don’t know 5% 10% 5% 5% 2% 5% 0% 3% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 35 of 50
In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Local government 52% 55% 41% 54% 59% 63% 50% 53% 49% 48%
Overseas Aid 50% 53% 41% 54% 59% 68% 43% 61% 73% 32%
Welfare 43% 32% 41% 51% 51% 39% 33% 45% 54% 43%
Defence 31% 37% 31% 30% 24% 32% 30% 29% 24% 36%
Equal cuts across the board (5% / 10% / 15% etc)
29% 21% 28% 22% 43% 29% 33% 34% 22% 29%
Infrastructure/Transport 18% 16% 21% 11% 24% 18% 13% 21% 30% 17%
Health 13% 16% 10% 14% 16% 13% 8% 21% 5% 12%
Education 8% 3% 8% 8% 14% 11% 8% 13% 8% 5%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 36 of 50
In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Local government 52% 57% 63% 50% 41% 55% 53% 49% 48%
Overseas Aid 50% 57% 68% 43% 41% 53% 61% 73% 32%
Welfare 43% 51% 39% 33% 41% 32% 45% 54% 43%
Defence 31% 27% 32% 30% 31% 37% 29% 24% 36%
Equal cuts across the board (5% / 10% / 15% etc)
29% 32% 29% 33% 28% 21% 34% 22% 29%
Infrastructure/Transport 18% 18% 18% 13% 21% 16% 21% 30% 17%
Health 13% 15% 13% 8% 10% 16% 21% 5% 12%
Education 8% 11% 11% 8% 8% 3% 13% 8% 5%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 37 of 50
In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Local government 52% 53% 48% 52% 55% 33%
Overseas Aid 50% 56% 32% 51% 49% 33%
Welfare 43% 43% 43% 43% 46% 28%
Defence 31% 30% 36% 31% 33% 22%
Equal cuts across the board (5% / 10% / 15% etc)
29% 29% 29% 29% 26% 44%
Infrastructure/Transport 18% 19% 17% 20% 17% 6%
Health 13% 13% 12% 14% 9% 11%
Education 8% 9% 5% 8% 8% 6%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 38 of 50
In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit? [rotate] Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Local government 52% 48% 56% 53% 45% 57% 61% 53% 37%
Overseas Aid 50% 60% 41% 63% 31% 48% 63% 56% 59%
Welfare 43% 50% 42% 58% 33% 38% 49% 42% 43%
Defence 31% 31% 33% 26% 24% 31% 34% 42% 22%
Equal cuts across the board (5% / 10% / 15% etc)
29% 24% 29% 32% 26% 36% 29% 34% 24%
Infrastructure/Transport 18% 12% 17% 37% 14% 21% 15% 20% 22%
Health 13% 7% 19% 21% 14% 7% 7% 14% 6%
Education 8% 10% 12% 11% 2% 5% 7% 5% 8%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 39 of 50
And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Tobacco and Alcohol Taxes 56% 50% 51% 76% 54% 50% 55% 53% 62% 54%
Income Tax 30% 47% 36% 24% 22% 37% 35% 24% 43% 20%
VAT 29% 47% 31% 41% 30% 45% 33% 34% 35% 7%
Capital Gains Tax 23% 32% 26% 24% 27% 13% 13% 29% 32% 20%
Corporation Tax 20% 16% 15% 19% 16% 21% 25% 16% 22% 24%
Inheritance Tax 19% 34% 13% 24% 8% 13% 13% 18% 19% 22%
National Insurance 19% 21% 18% 16% 14% 18% 25% 21% 30% 14%
Stamp Duty 12% 13% 3% 14% 11% 13% 13% 18% 19% 9%
Petrol and Diesel fuel duty 11% 13% 13% 11% 8% 13% 10% 16% 8% 11%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 40 of 50
And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Tobacco and Alcohol Taxes 56% 65% 50% 55% 51% 50% 53% 62% 54%
Income Tax 30% 23% 37% 35% 36% 47% 24% 43% 20%
VAT 29% 35% 45% 33% 31% 47% 34% 35% 7%
Capital Gains Tax 23% 26% 13% 13% 26% 32% 29% 32% 20%
Corporation Tax 20% 18% 21% 25% 15% 16% 16% 22% 24%
Inheritance Tax 19% 16% 13% 13% 13% 34% 18% 19% 22%
National Insurance 19% 15% 18% 25% 18% 21% 21% 30% 14%
Stamp Duty 12% 12% 13% 13% 3% 13% 18% 19% 9%
Petrol and Diesel fuel duty 11% 9% 13% 10% 13% 13% 16% 8% 11%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 41 of 50
And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Tobacco and Alcohol Taxes 56% 56% 54% 54% 66% 39%
Income Tax 30% 34% 20% 30% 31% 28%
VAT 29% 37% 7% 29% 29% 33%
Capital Gains Tax 23% 24% 20% 22% 25% 28%
Corporation Tax 20% 19% 24% 20% 22% 11%
Inheritance Tax 19% 18% 22% 18% 22% 17%
National Insurance 19% 20% 14% 19% 17% 28%
Stamp Duty 12% 13% 9% 11% 15% 17%
Petrol and Diesel fuel duty 11% 12% 11% 10% 13% 22%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 42 of 50
And in which of the following areas do you think the government should make increases to reduce the national deficit? [rotate] Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Tobacco and Alcohol Taxes 56% 60% 56% 74% 40% 52% 56% 58% 57%
Income Tax 30% 29% 35% 16% 33% 29% 17% 29% 35%
VAT 29% 45% 30% 32% 24% 19% 46% 22% 22%
Capital Gains Tax 23% 26% 25% 21% 21% 26% 17% 15% 29%
Corporation Tax 20% 19% 23% 16% 14% 31% 15% 24% 12%
Inheritance Tax 19% 24% 23% 16% 10% 21% 15% 20% 14%
National Insurance 19% 21% 19% 11% 19% 26% 10% 22% 16%
Stamp Duty 12% 10% 7% 21% 5% 26% 17% 12% 10%
Petrol and Diesel fuel duty 11% 17% 12% 21% 17% 7% 2% 7% 14%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 43 of 50
Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
It would present us with major problems
6% 5% 8% 0% 11% 8% 5% 5% 3% 9%
It would present us with some problems
15% 8% 15% 16% 14% 16% 20% 8% 14% 17%
It would have no overall effect 68% 84% 67% 73% 57% 53% 65% 79% 65% 68%
It would be likely to help our business a little
5% 0% 3% 0% 8% 8% 5% 5% 5% 6%
It would be likely to help our business a great deal
0.2% 0% 0% 0% 3% 0% 0% 0% 0% 0%
Don’t know / other 6% 3% 8% 8% 8% 16% 5% 3% 14% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 44 of 50
Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
It would present us with major problems
6% 5% 8% 5% 8% 5% 5% 3% 9%
It would present us with some problems
15% 15% 16% 20% 15% 8% 8% 14% 17%
It would have no overall effect 68% 65% 53% 65% 67% 84% 79% 65% 68%
It would be likely to help our business a little
5% 4% 8% 5% 3% 0% 5% 5% 6%
It would be likely to help our business a great deal
0.2% 1% 0% 0% 0% 0% 0% 0% 0%
Don’t know / other 6% 8% 16% 5% 8% 3% 3% 14% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 45 of 50
Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
It would present us with major problems
6% 6% 9% 8% 2% 6%
It would present us with some problems
15% 14% 17% 14% 17% 11%
It would have no overall effect 68% 68% 68% 69% 63% 61%
It would be likely to help our business a little
5% 4% 6% 3% 7% 17%
It would be likely to help our business a great deal
0.2% 0% 0% 0% 1% 0%
Don’t know / other 6% 8% 1% 5% 9% 6%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 46 of 50
Which of the following best describes the effect on your business if the problems facing the Euro were to continue for another six months? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
It would present us with major problems
6% 2% 7% 0% 2% 12% 5% 7% 10%
It would present us with some problems
15% 12% 6% 11% 17% 19% 17% 29% 12%
It would have no overall effect 68% 71% 78% 74% 74% 60% 63% 51% 65%
It would be likely to help our business a little
5% 7% 4% 5% 0% 5% 5% 8% 4%
It would be likely to help our business a great deal
0.2% 2% 0% 0% 0% 0% 0% 0% 0%
Don’t know / other 6% 2% 5% 11% 7% 5% 10% 5% 10%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 47 of 50
Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all
Region
All
Eastern England
London & South East
Midlands & Wales
North midlands
North West
Scotland South West
Yorks/ N. East
Southern Ireland
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Better for our business if the Euro were to continue
23% 11% 13% 5% 14% 21% 25% 13% 11% 51%
Neither option would have any effect on our business
45% 55% 51% 59% 46% 42% 38% 61% 41% 31%
Better for our business if countries reverted to having their own currencies
18% 26% 18% 22% 24% 13% 20% 21% 27% 10%
Don’t know 14% 8% 18% 14% 16% 24% 18% 5% 22% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 48 of 50
Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all
Region II
All Midlands & Wales
North West
Scotland London &
South East
Eastern England
South west
Yorkshire or the North East
Southern Ireland
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Better for our business if the Euro were to continue
23% 9% 21% 25% 13% 11% 13% 11% 51%
Neither option would have any effect on our business
45% 53% 42% 38% 51% 55% 61% 41% 31%
Better for our business if countries reverted to having their own currencies
18% 23% 13% 20% 18% 26% 21% 27% 10%
Don’t know 14% 15% 24% 18% 18% 8% 5% 22% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 49 of 50
Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all
Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
Better for our business if the Euro were to continue
23% 14% 51% 24% 22% 28%
Neither option would have any effect on our business
45% 49% 31% 46% 43% 28%
Better for our business if countries reverted to having their own currencies
18% 21% 10% 17% 20% 39%
Don’t know 14% 15% 8% 13% 16% 6%
Column total 100% 100% 100% 100% 100% 100%
Extracts from QBE SME Research June 2010
PRESS RELEASE
Page 50 of 50
Do you think that for your business it is better for some European countries to continue to have a common currency or would it better for your business if each country reverted to having its own currency? (one) Base = all
Main business sector
All
Building / const.
Business / prof.
Financial services
IT, media/ printing
Leisure / catering
Manufng / Eng
Retail & Distn.
Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Better for our business if the Euro were to continue
23% 12% 19% 32% 38% 26% 22% 39% 8%
Neither option would have any effect on our business
45% 48% 60% 47% 29% 38% 37% 32% 47%
Better for our business if countries reverted to having their own currencies
18% 31% 11% 0% 17% 29% 22% 15% 25%
Don’t know 14% 10% 10% 21% 17% 7% 20% 14% 20%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%