About the only thing it's been "good" for is generating depressing headlines. But when it comes to business sentiment on the state of the economy, credit, ironically, is not the main bar to growth.

That's the conclusion of Ed Saunders, director of corporate real estate for city-based Savills, following the company's occupier survey of almost 100 businesses based in the East of England. Only 18 per cent of companies cited access to credit as the most decisive factor in their plans for growth.

He said: "Access to credit, although it's now more expensive than 12 months ago, is not the main problem.

"Businesses' main concerns stem from their lack of control over extraneous factors such as the rising costs of fuel, as well as EU regulations and general red tape."

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"The extra tax of paying void rates on industrial properties after six months is also adding to the cost regime," added Savills director William Rose.

For all that, more than half of the survey's respondents were confident about general business conditions. This sentiment was backed up by the CBI in June, although recently it suggested that this attitude might now be worsening.

More businesses surveyed expected to maintain, or increase, their staffing levels than to decrease it over the next one to two years, while only one in five expected their staff numbers to fall over this period.

Ed added: "It will be interesting to see if this is borne out over the coming months.

"Barclays recently suggested that the worst of the credit crunch is over, and most economists predict that inflation is likely to fall, with the next one to two-year period seeing the UK economy returning to stronger growth.

"Companies do seem to be bearing this in mind when reviewing their business plans."

In general, the survey proved that most businesses felt the credit crunch has had limited direct effect so far. However, the indirect effects were felt to be important, with concerns about impact on revenue and costs dominant.

"It seems clear that, one year on from its beginning, most businesses surveyed are only just starting to feel the full force of the credit crunch," said Ed.

"To date, most have been far more concerned about the cost factors that affect their businesses, especially the costs outside their control – the continued rise in fuel costs is likely to have exacerbated this feeling. However, their concerns over the indirect impact – felt especially through declining revenue, are likely to grow as the economic slow-down bites," continued Ed.

Despite its early resilience, it appears that business confidence may be decreasing and testing the resolve of many occupiers.

Nonetheless, employment figures have yet to be significantly affected, and the impact on take-up of commercial accommodation may therefore not be as bleak as some may think.