Businesses displaying fragile confidence, says survey
The majority of companies in Coventry and Warwickshire expect their turnover to grow in the next 12 months. That's according to the latest quarterly economic survey from the Coventry and Warwickshire Chamber of Commerce.
However, despite the confident headlines, the survey revealed that confidence among businesses is "still fragile".
Although the survey showed that 63 per cent of manufacturers think turnover will rise in the next year and 52 per cent of businesses from the service sector say it will go up, the survey results still highlighted issues facing companies.
In both sectors, 27 per cent of companies said their cashflow had decreased, while investment in machinery, equipment and training appeared to be stagnating.
When it comes to job creation, 27 per cent of manufacturers said they had taken on new staff in the past three months, while 59 per cent said their labour force had remained the same
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “The survey backs up exactly what we hear anecdotally. There is no doubt that there are companies on our patch which are thriving and that is good news.
"The figures also highlight that there are many businesses out there which are surviving through what are still difficult economic circumstances but don’t see an opportunity to try to invest or expand at the moment."
