Lancashire survey points to growth and investment
A SURVEY of 100 Lancashire firms has found more than 90% have maintained or increased sales while 72% are confident of making further investment in the next 12 months.
The 2010 Lancashire Business Survey, conducted by private sector lobbying group Downtown Preston in Business, accountants Moore and Smalley, Forbes Solicitors, Northwest Regional Development Agency (NWDA) and Business Link Northwest, also found that nearly half of respondents plan to increase staff numbers.
However, some 36% of businesses said better financial support from government is needed to aid the recovery, and almost half highlighted cashflow as the most critical issue they are facing.
Damian Walmsley, of Moore and Smalley, said: “I believe these figures demonstrate Lancashire businesses’ dogged determination and resoluteness. The economy remains challenging, but there is this stubborn optimism for which Lancashire folk are renowned, but which is clearly backed up with genuine skill and entrepreneurial flair. Our business owners are getting on with the job of trying to invest in and grow their companies.”
The survey also shows there is broad support for the coalition government, with 57% of respondents believing the new government will be good for business. But 72% disagreed with the decision to abolish the NWDA, with 45% saying it should remain, and 27% saying that it should be kept on but trimmed down.
Just over a third of businesses made a reduction in staff numbers in the last 12 months, with 28% recruiting more staff, and 38% making no change to headcount. A total of 103 companies responded to the survey across a range of business sectors.
