CashNews.co
New research shows that nearly 90% of financial leaders have felt the impact of Budget uncertainty in 2024, with over 70% postponing or canceling planned investments as they await clarity from the upcoming Autumn Budget.
The survey, commissioned by payments solutions provider Equals Money and conducted with 400 UK financial decision-makers, found a strong focus on technology investment, with 63% of businesses prioritizing this area in 2024. By contrast, 63% reported reduced or stagnant spending on work social events. Looking ahead to 2025, employee wellbeing and benefits (14%) and ESG initiatives (14%) ranked among the lowest investment priorities.
Sector-specific findings revealed ESG as a low priority for finance and insurance (11%), business administration services (11%), technology (10%), and hospitality (6%). Employee wellbeing and benefits were deprioritized in manufacturing (11%), technology (10%), construction (8%), and hospitality (6%).
Top 2025 priorities for managing business expenses:
- Improving operational efficiency (26%)
- Controlling costs (25%)
- Leveraging AI (22%)
- Investing in technology and innovation (22%)
- Managing cashflow (21%)
Steve Paul, Deputy CFO at Equals Money, noted, “Managing business spend is always complex, but an uncertain market amplifies this challenge. With the right tools, such as currency hedging and clear budget oversight, financial leaders can make sound investments. However, the research shows that many companies aren’t fully leveraging available data for decision-making.”
Despite the reliance on data—critical for decisions in 30% of cases and used regularly by 58%—only 45% use budgeting and forecasting software, and 26% still rely on manual tracking. Nonetheless, 81% plan to adopt or upgrade financial tools to enhance spending management and visibility.
Paul added, “Financial tools benefit the whole business, not just finance. Holding back on employee wellbeing or ESG spending might ease short-term cash flow, but these investments often support long-term goals. Enhanced budget clarity enables financial leaders to provide strategic guidance on company-wide investments.”
Equals Money supports finance leaders by streamlining processes so they can focus on business growth. To learn more about optimizing financial processes, speak with our experts today.