Companies 'confidentof recovery'

The risk appetite among chief financial officers and finance directors is at its highest level since the beginning of 2008, finance firm Deloitte said.

Its quarterly survey of senior staff – including 39 FTSE 100 finance bosses – said optimism about prospects for their own business was also at a two-year high.

Deloitte chief economist Ian Stewart said: “Today businesses are lifting their eyes from the recession and are looking for growth in 2010. The economy and the financial system are a long way from normal but things are looking up.”

Concerns about access to finance have also eased - with many prepared to issue bonds or new shares to raise funds rather than rely on costly bank borrowing.

Almost four in five finance bosses – 78 per cent – nonetheless believe the UK banking system is now strong enough to sustain a recovery.

But the struggling economy remains the chief worry, nearly half – or 48 per cen t – concerned about a potential “double dip” recession in 2010.

The UK is expected to have returned to growth in the final three months of 2009.