Nearly 80 per cent of games developers expect business to improve over the next six months, the latest business opinion survey from TIGA has revealed.
Answering on the subject of business prospects, 76 per cent said they expect their business will get either a little or a lot better in the six month period, while the remaining 24 per cent expected it to remain the same.
Further encouraging news came from respondents' views on employment, with 65 per cent anticipating they would be growing their organisation during the next half year. 29 per cent estimated they would remain at their current size and six per cent expected a slight decline.
The findings, said TIGA, echo other evidence that the worst of the UK recession is over. Between July 2008 and July 2009 the headcount at British game studios fell by four per cent and 15 per cent of studios went out of business.
"Overall the results of the second TIGA Business Opinion Survey point to a cautious optimism among the majority of games developers with regard to the overall business outlook for the next six months," commented CEO Richard Wilson.
"However, UK developers are held back by the lack of availability of bank finance and many are set to reduce investment. The time is right for the government to introduce a games tax relief for UK game developers."
The remainder of the survey, conducted of TIGA members, showed business performance is generally favourable, with 59 per cent of respondents saying their business was performing well. 23 per cent saying it was performing neither well nor badly and 12 per cent indicating badly.
Financial expectations were a little more downbeat with a majority - 47 per cent - forecasting a decline in net profit over the next six months, 41 per cent an increase and 12 per cent around the same.
41 per cent reported they are finding it more difficult to borrow money from their bank in comparison to six months prior, while the same percentage said they felt conditions were about the same, and 18 per cent did not know.