Business Week: Lukewarm On The Olympics

[Fiona]

Finance firms not impressed with Games

THE 2012 London Olympics have failed to impress finance professionals with half believing the Games will bring little financial benefit to their company, says new research.

A survey of more than 2,000 financial professionals by leading recruitment consultancy - and Wharf columnist - Robert Half Finance & Accounting, revealed a strong pessimism towards the event.

Professionals in London said they needed help on how to maximise the opportunities the Games present, with 54 per cent believing the event will have a neutral financial impact on their companies.

Robert Half managing director Phil Sheridan said companies urgently needed advice on how to maximise opportunities from the bid win.

``Olympics minister Tessa Jowell has stated that we can all be winners from the Games coming to Britain,'' he added.

``For obvious reasons there will be legal restrictions on how businesses can take advantage of the GamesHowever, I look forward to Government and the organisers making a clear case to business on how the Olympics can benefit us.''

The national survey, released last week, and done in conjunction with Accountancy Age, found that three in four London businesses do not expect to notice the impact of the Games until at least 2009.

And one in five not until 2012. But when it came to the UK as awhole, 67 per cent of finance professionals believe the Games will have a favourable impact on the country. Younger professionals were more optimistic than their older colleagues that the Games would be positive for their company (35 per cent compared to 30 per cent).

The Scots are the most pessimistic with only 16 per cent believing their companies will benefit

icthewharf.co.uk