Member Article

Survey finds business booming across Greater Manchester

The latest Greater Manchester Business Survey by New Economy, in partnership with Business Growth Hub, BMG Research, Manchester City Council, Rochdale Council, and Trafford Council, shows a general growth in confidence across the city region.

The survey incorporates responses from more than 1,200 businesses across the conurbation. The general rise in confidence is upheld by an increase in jobs growth and overall improvements to economic performance.

50% of the businesses surveyed are optimistic about the year ahead and expect their turnover to increase over 2013. Only 7% anticipate their turnover will decrease this year, whilst 33% expect it to stay the same.

Dr. Alexander Roy, acting deputy director for New Economy, said: “It is encouraging to see that economic sentiment is improving across Greater Manchester, which is reflected by the boost to business performance levels and to perceptions of the conurbation as a place to trade.

“However, there remain some significant challenges. Not least around Greater Manchester’s links with international markets, by which there is still room for improvement. Though the signs suggest we are moving in the right direction with interest growing in trading with the BRICs markets in particular.

“In addition, half of the firms interviewed also said they expect an increase in turnover this year. It is therefore likely that the effects of this will have an impact on international trade efforts over the long-term.”

Richard Jeffery, director of the Business Growth Hub, said: “Overall, this is a positive response to the latest survey and we’re particularly pleased to see that companies have been more likely to innovate, access support services and to have invested in staff training over the last 12 months.

“These factors all suggest there is a healthy appetite for business development across the region.”

Sir Richard Leese, leader of Manchester City Council, said: “It’s encouraging to see an increasing climate of business optimism in Manchester and important that Manchester City Council and its partners, private and public alike, keep working together to ensure the right conditions for businesses to flourish and local people to benefit from that growth, whether that’s improved connectivity to help compete in a global market or a pool of people with the right skills to access the jobs created.

“Manchester has weathered this downturn better than many places but we should not underestimate the scale of the ongoing challenge.”

This was posted in Bdaily's Members' News section by Simon Malia .