New research carried out by the British Chambers of Commerce (BCC) has revealed that the issue causing the nation's businesses the most concern is the ongoing eurozone debt crisis.
An estimated 52 per cent of firms up and down the country claim they believe this will have a significant impact on their business performance for the rest of this year - and possibly spilling over into 2013.
Senior economic adviser at the Institute of Directors Corin Taylor recently claimed that this - combined with the fact that the economy contracted by 0.7 per cent in the second quarter of 2012 - has underlined the importance of the coalition's deficit reduction plan.
Director-general of the BCC John Longworth said that the UK's lead in trading with Europe is not as strong as it should be.
"It is an indictment of the single market that it is almost as easy to trade with countries as far as away as the US, Canada, Australia and New Zealand," he commented.