A recent survey conducted by Boardroom Business is one tool being used by local businesses to understand confidence levels in our local area. The survey provides data based on LOCAL data and information and can assist decision-making by understanding the current market conditions.
A broad range of industries received the survey and the majority of the participants were from the Property and Business Services, Retail and Manufacturing. The results overall were positive with 43% of participants indicating their business performance was consistent with or stronger than the previous 6 months and best sign of rising confidence was exhibited with 61% of participants identifying they believe their business performance will be stronger over the next 6 months.
Rising overheads/utility costs, price pressure from competitor and customers, taxes and government charges headed the list of what participants felt were the major constraints on the growth of their business.
Financial markets will always throw obstacles and challenges your way, the key will be finding ways to overcome them in the period ahead.
For a copy of the full report click here.