CEO confidence is up again despite more than half of UK CEOs reporting a worsening economy
Eighty-three per cent of leaders say they are highly unlikely to relocate outside the UK, but ongoing pressure is showing in workload and strain.
20 October 2026, 9am BST, London — Confidence among UK business leaders has edged higher despite a subdued economic outlook, according to Vistage’s latest CEO Confidence Index.
The index rose 4.3 points to 95.7 in Q3 2026, up from 91.4 in Q2. The quarterly survey of UK CEOs shows that leaders are becoming more positive about their own organisations, with hiring and investment intentions recovering, even while many remain concerned about the wider economy.
More than half (52%) of CEOs said economic conditions had worsened over the past year, while 33% expected them to deteriorate further over the next 12 months. Only 17% expected the economy to improve and 46% expected conditions to remain the same.
Leaders are more confident in their own businesses
Despite the wider backdrop, 58% of leaders expect sales revenue to grow over the next 12 months. Nearly half (46%) expect higher profits, up from 43% in the previous quarter, while just 9% expect sales to decline.
The results suggest that mid-market businesses are regaining some footing, although many are still waiting for fiscal clarity before fully committing to growth.
Hiring and investment plans are recovering
The proportion of CEOs who said they had slowed, paused or reduced hiring because of the tax and regulatory environment fell from 51% in Q2 to 39% in Q3. The proportion holding back or cancelling planned investment dropped from 26% to 17%.
Looking ahead, 42% of leaders expect to increase headcount and 40% plan to raise fixed investment. By comparison, 13% expect to reduce headcount and 11% expect to cut investment.
“Attitudes to hiring are thawing and investment plans are being considered, which tells us the worst of the caution may be passing.”
Professor Joe Nellis, Economic Adviser, Vistage
Professor Joe Nellis said: “Business leaders are still navigating a difficult economic environment, but there are signs that confidence is beginning to return. The Government now has an opportunity to turn a chilly business environment into a lasting upturn by providing fiscal stability and easing the cost of employment, so that recruitment and investment become the sensible choice rather than the risky one.”
Leaders remain committed to the UK, but pressure is rising
Despite the uncertainty, 83% of CEOs said it was very unlikely that they would relocate outside the UK in the next two years, while only 6% said a move was likely.
However, the findings also point to significant pressure at the top. Forty-two per cent of leaders said they were making more significant business decisions each week than a year ago, yet 55% did not have a credible plan for who would lead their business if they stepped away.
Emma van Rooyen, Managing Director of Vistage UK & Ireland, said: “Business leaders are making more decisions with more at stake, often without a safety net. That creates a risk of burnout for the individual and for the business. Building a trusted network around the CEO, as well as a credible succession plan, is essential if organisations are to make the most of the recovery in confidence.”
Methodology
Vistage’s UK CEO Confidence Index is based on 142 responses collected in September 2026. Full data tables are available to journalists on request.
About Vistage UK & Ireland
Vistage is the world’s leading CEO coaching and peer-advisory organisation, with more than 45,000 members across 40 countries. In the UK and Ireland, Vistage brings business leaders together in confidential peer groups, one-to-one coaching and expert-led sessions to help them make better decisions and achieve better results.
