Confidence is growing, says new Chamber surveyJul 13, 2018
Its latest Quarterly Economic Survey reports that almost half of respondents expect an improvement in turnover in the next 12 months – a considerable jump compared with just 15% in the first quarter of the year.
Almost one in three of the companies questioned expect to grow their workforce over the next three months. However fewer thought their staff level would stay the same and 5% of those surveyed anticipated having to lose employees.
Firms are also concerned about investment in training because of the Brexit uncertainty, with only 5% of respondents planning to put money into upscaling staff.
- Pictured: Milton Keynes Chamber chief executive Paul Griffiths.
But 35% of organisations in Milton Keynes taking part in the survey said domestic sales had improved in the second quarter of 2018, a positive change from just 14% in Q1.
Widely recognised as a key economic indicator by government, the Bank of England, the Office of Budget Responsibility, the EU Commission and independent economists, the QES provides both central and local policymakers with an important source of feedback of the performance, concerns and views of businesses across Milton Keynes.
Milton Keynes Chamber chief executive Paul Griffiths said: “It is encouraging to see some positive results for this quarter, with improvement in business confidence, increase in domestic sales and a tentative upwards trend in employment expectations.
“But the continued uncertainty over Brexit and its implications is still raising question marks over progressive future planning.”