The research, carried out by Ipsos MORI, asked 100 board-level "captains of industry" at FTSE 350 companies, which include Aviva, Halfords, ITV, Sainsbury's, Rolls-Royce and Tesco, what effect they think the Olympic games would have on their business.
Of the respondents, 66% claimed the Olympics would have "no effect", while a further 8% predicted a "detrimental" effect. Only 25% believed the Games would be "beneficial" to their businesses.
The survey showed a regional disparity, with business leaders in London more likely (31%) to view the Games as "beneficial", than those based outside the capital (19%).
Of those who predict a positive impact from London 2012, more than half (52%) think there will be an increase in consumer demand and spending, and one in five (20%) believe the event will raise the morale of the British public.
Simon Atkinson, deputy chief executive of Ipsos MORI, said the research proved UK business leaders were "realistic" about the potential of the 2012 Games.
He said: "Whatever their view on the benefits the Olympics will bring to UK plc, the general view is that it will make no difference to their own plc. Where they have a view, however, it tends to be positive – particularly among those headquartered in the capital."
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