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Survey shows North West businesses upbeat about recovery

Survey shows North West businesses upbeat about recovery

A survey by North West news source TheBusinessDesk has revealed that business leaders in the region are upbeat about recovery, and the majority expect to see their companies grow this year.

In the first State of the Region Survey, just 15% of respondents – which included entrepreneurs, financiers and professionals – are less confident about the region’s economy than 1 year ago, while a healthy 55% reported feeling more confident. The remaining 30% feel the same about prospects now as they were at the start of 2009.

91% of respondents believed that the North West is a good place to do business, with most agreeing that transport infrastructure issues is a key area for improvement.

The majority of respondents expect that the key drivers for economic recovery will be increased bank lending and a change in government. Threats to recovery include cash flow issues and limited sales opportunities.

Speaking from the Manchester office of DLA Piper, headline sponsor of the survey, was David Gray. He commented that the feedback was “very encouraging”, but believes that the general election will play a major part in the future of the North West. He said:

“There are a lot of people out there, including the key players at the banks, playing a wait and see game. In the circumstances, I don’t think it’s reasonable to see any material change in our local economy until 2011.”

He added, “On the plus side it’s fair to assume that the purse strings will be loosened and increased liquidity in the NW will enable business to get back into the forward gears.

“The North West in general and Manchester in particular, still have a lot going for them and I fully expect the region’s natural optimism to produce positive results in 2011.”

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Author: | January 18, 2010 | 0 Comments

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