Almost one in four UK businesses are feeling resilient despite the exceptionally tough economic outlook, according to the latest economic barometer research by RSM.

The percentage of firms that expect the economy to improve over the next six months stood at 38%, indicating that some are expecting a relatively short recession. 

However, while businesses seem confident in their ability to navigate the economic headwinds, nearly half (44%) stated they felt rising energy prices presented the biggest risk to their business.

This was followed by the increased cost of finance and rising staffing costs, which were equally viewed as the second largest risk posed (30%).