Businesses in Swansea Bay have entered 2017 with confidence according to results from Swansea Bay Business Club’s Business Barometer.
45% of businesses surveyed reported a stronger performance over the last quarter of 2016 compared to the previous three months. In addition to this, 70 per cent stated they believed their performance would be even stronger over the next three months.
The Business Barometer survey, which was designed by Swansea Bay Business Club to monitor the performance and attitude of local businesses towards the economy, also found that 65 per cent of businesses predicted an increase in profitability in the next three months.
Hayley Davies, President of Swansea Bay Business Club, said:
“It is very encouraging to hear that businesses across the Swansea Bay region are optimistic about what lies ahead and foresee their profitability continuing to increase.”
“The Barometer enables us to stay in touch with local businesses and monitor their opinions and concerns. Our monthly events provide the perfect platform for these opinions and concerns to be shared amongst like-minded businesses.”
Looking further ahead, when asked what was the single largest barrier to the growth of their business, 25 per cent of respondents said they felt that global/national economic performance could hold them back.
“Our findings suggest that a quarter of businesses surveyed feel that the impact of issues such as Brexit could potentially have a damaging effect on their ability to grow. Whilst the true impact of Brexit is still unknown we hope to see local businesses find ways to work through any tough times that lie ahead as they have done in the past.”
“Swansea Bay Business Club is largely encouraged by the latest findings from our Business Barometer and we look forward to the next set of results where we hope to see further evidence of businesses across the region continuing to prosper.”
For more information please visit the website www.swanseabaybusinessclub.com