Pro.manchester members upbeat about 2012 prospects

PRO.MANCHESTER members have shown increased optimism about prospects for the economy and business, according to the organisation’s latest Business Conditions Survey.

In the first quarter of 2012, prospects for business in the UK and in export markets improved, with more firms recording an increase in turnover and investment.

Over the past three months, 56% of members recorded a constant turnover compared to 50% in the previous survey. Just 7% of members recorded a fall in turnover compared to 15% last time. Meanwhile, 38% recorded an increase in turnover compared to 34% in prior polls.

Close to half (47%) of members were expecting to increase staff compared to 20% in the prior poll.

When asked which areas are of greatest concern, competition was the most cited at 53%, inflation fell to 27% but fears over interest rates increased to 33%. Taxation remained an evergreen problem at around 23%.