Businesses are concerned about the UK's first hung parliament in three decades.

Those who have set up a recruitment agency could be among businesses in the country concerned about the UK's first hung parliament in three decades.

Discussions over forming a government are currently going on between the Conservatives and the Liberal Democrats, but research from Travelex Global Business Payments shows businesses are worried.

Nearly half (48 per cent) of those polled by the company revealed their anxiousness that the result could have a negative impact on their business, especially if the pound becomes weaker.

The firm's customer director Paddy Earnshaw explained that a hung parliament could also make it harder to obtain credit, saying "if the markets do not see the deficit being addressed quickly and effectively, the UK's credit rating will come under pressure".

"If our credit rating is downgraded it will put the cost of borrowing up for UK businesses and could even tip us back into recession," he added.

In the meantime, people running a recruitment company could benefit from outsourcing back office solutions to an agency to concentrate on expanding their operations.