SSEP Business Surveys
Two recent surveys have provided local information about the effects of the recession.
SSEP Business Survey responses 2
The sample size was 44 this time (vs 78 in the last survey). Direction of travel across the questions indicates that there is still a certain level of uncertainty. There has been an increase in those reporting a fall in domestic sales but a decrease in those reporting fall in export sales. This confirms that other countries are coming out of recession earlier than the UK.
Although there are 38% who expect a rise in turnover, this has decreased from the previous survey. Also 18% feel there will be a fall in turnover this is a decrease from previous survey and 43% feel there will be no change and this has gone up from the previous survey.
66% predict no change in their employment figures while those that think there will be a rise has gone down to 9%. 14% still feel there will be a fall in employment which has not changed from last survey.
The greatest area of Business concern is Cashflow with 27% of respondents. Other concerns featuring are Salesvolume/value (18%), Customer retention (18%), Funding/loans (16%). Customer retention and Funding/Loans have increased significantly and cashflow and Sales volume/value have decreased the most as concerns.
Overall there is a sense of optimism with an increase in the expectation of a rise in Business activities over the next 3 months.
For the results of this most recent survey, and the previous one, view the documents below:
Business Survey Responses - Survey 2 - August 2009 as a pdf
Business Survey Responses - Survey 1 - May 2009 (pdf, 199kb)
Chambers of Commerce’s Quarterly Economic Survey
The worst of the recession is over but recovery is not guaranteed according to the recent British Chambers of Commerce’s Quarterly Economic Survey (Quarter 2). The data, from over 5,600 companies, shows that there is welcome progress in both the manufacturing and service sectors with most key indicators improving in the last quarter. Manufacturing recorded stronger improvements in Q2 than services.
Concurring with the national figures, Swindon businesses are riding out the recession and in the service sector, 85% of those surveyed reported that turnover had improved, as had profitability at over half.
Commenting on these figures Claire Prosser, policy executive for the Thames Valley Chamber of Commerce Group, said: “While these results finally point to some good economic news, there is a risk that without a continued focus on limiting the impact of recession, the economy could drop-off suddenly, adding weight to the argument that we are heading towards a W-shaped recession. But we are delighted that businesses are starting to recruit again, from the last quarter, and employment expectations look good. Therefore, there is movement for employers seeking candidates and indeed for those employees looking for jobs.”
These results come from the recent Quarterly Economic Survey (QES) for Q2 carried out among Thames Valley Chamber of Commerce Group members for the months of April, May and June.
The QES includes feedback from both small and large businesses and is extremely representative of the UK business profile as a whole. Its results are made available to the Bank of England and other bodies.