Results from Business West’s local business survey indicate that the Swindon and Wiltshire economy ended 2015 on a positive note, with quarterly increases in domestic and international sales.
The survey of almost 90 businesses in Swindon and Wiltshire in November, found that compared to the previous quarter:
- Domestic sales (44%) increased by six points.
- Export sales rose by 21 points to 55%.
- Cashflow increased six points to 38%.
- Business confidence remained high at 65%.
However, with less positive recruitment figures and sales figures compared to this time last year, challenges still lie ahead.
Commenting on the survey results, Ian Larrard, Director of the Swindon and Wiltshire Initiative, part of Business West, said:
“These results should give Swindon and Wiltshire businesses a boost to start the year. With sales and cashflow on the up, it is no surprise to see that almost two thirds of firms are confident for the year ahead.
“That said, the job is far from done. With George Osborne warning that the UK faces a ‘cocktail’ of serious threats from a slowing world economy, it is clear that there are warning signs of potential trouble ahead.
“Given the global uncertainties, it is vital that the government makes 2016 a year of action on fundamental issues that we know are holding our local firms back, such as infrastructure and skills.”