Brokers’ confidence in UK economy and business prospects surges

Optimism among brokers about the UK’s economy and their own business prospects have improved significantly since Close Brothers Brokers Solutions last surveyed 500 members of the broking community in mid-2024.

Today, 90% of participants in the research from Close Brothers Brokers Solutions revealed they were confident the economy will grow, compared to only 50% last year. Perhaps the starkest disparity is in the numbers who were of the view the economy will slow down – in 2024 it was 44% while in 2025 it was only 1%.

Q. Which of the following best describes your business’s economic outlook for the next 12 months?
	2025	2024
Confident the economy will grow	90%	50%
I don’t think there will be a significant change in the economy	9%	6%
Concerned the economy will slow down	1%	44%

Business prospects

Brokerages are also considerably more optimistic about their own prospects with 60% of those surveyed expecting their firm to expand – in 2024 this number stood at only 23%. The numbers of those expecting to ‘stay the same’ were broadly similar (2025: 36%; 2024: 41%); however, those expecting to contract fell by 26% from 29% in 2024 to just 3% in 2025.

This year, no respondents said they were expecting to close down – in 2024 it was 8%.

Q. How do you expect your business to perform over the next 12 months?
	2025	2024
Expand	60%	23%
Stay the same	36%	41%
Contract	3%	29%
Close down	0%	8%

Business priorities

Brokers’ priorities remained broadly unchanged with marginal differences between the various options. In 2024 investing in staff and remaining open topped the list – this year it was achieving growth and continuing to trade at current levels, indicating a shift in focus for brokerages.

Q. What is your main business priority for the next 12 months? (select one)
	2025	2024
Achieving growth	18%	14%
Continue trading at current levels	17%	14%
Paying down debts	8%	14%
Business consolidation	16%	15%
Developing our products/services	15%	12%
Investing in staff	14%	16%
Remaining open	13%	16%

Income

Seven out of 10 brokers reported an increase in income over the past 12 months, a rise of 12% from the previous year (2024: 58%). Only 3% reported a decrease, three times few than 2024, while for 27% income remained largely static (2024: 33%).

	2025	2024
Increased	70%	58%
Stayed the same	27%	33%
Decreased	3%	9%

“Brokers are playing an increasingly crucial and important role in assisting the UK’s business owners to access the funding they need to invest and grow,” said Richard Cameron, Managing Director of Close Brothers Broker Solution.

“And their views are a strong barometer of the sentiment of their customers and it’s really good to see positivity returning to the market after several years of limited economic growth.

“What is particularly encouraging to note is that there was an increase in all indicators, across the board, and it wasn’t limited only to a couple of issues.”