Results from Business West’s local business survey of Gloucestershire firms indicates that the county’s economy ended 2015 on a positive note, with quarterly increases in key indicators such as sales, cashflow and businesses confidence.
The survey, completed by almost 100 businesses in Gloucestershire in November found that compared to the previous quarter:
- Domestic sales (45%) increased by seven points.
- Export sales rose by six points to 37%.
- Cashflow increased marginally to 38%.
- Business confidence increased two points and stands at 63%.
However, with less positive recruitment figures for the quarter and most major indicators down compared to 12 months ago, challenges still lie ahead.
Commenting on the survey results, Ian Mean, Director of Business West Gloucestershire, said:
“These results cap off what was a broadly successful year for the Gloucestershire economy, and give our county’s businesses reason to be buoyant as we dawn upon what is set to be an eventful 2016.
“With increases across the board on major indicators such as domestic sales, international sales, cashflow, you can see why business confidence stood at an impressive 63% to close out the year.
“That said, with nearly all indicators below levels seen this time last year, there are warning signs of potential trouble ahead. Last week we heard George Osborne warn that the UK faces a ‘cocktail’ of serious threats from a slowing world economy, so we cannot afford to be complacent despite encouraging news this quarter.
“Given the global uncertainties, it is vital that the government makes 2016 a year of action on fundamental issues such as infrastructure and skills, which are holding our local firms back.”