Businesses should resist the temptation to hoard cash and ignore growth opportunities, say senior directors and managers polled by interim management recruiters Interim Partners.

Research & development is seen as the business area most likely to suffer from such measures according to nearly half of respondents, up from just over a third last year.

Meanwhile, half of respondents said pursuing organic growth should be top priority, up from only 34 % last year, with the number believing cost-cutting or debt reduction should come first is done from 29% last year to 23%.

Doug Baird, managing director of Interim Partners, says: “The risk is that by creating large cash reserves, businesses might be forced to cut back on investment in essential assets like IT or machinery upgrades or research & development projects.”