Thames Valley businesses are bucking the trend, says the latest Business Barometer from BDO. Nearly two thirds (64%) of businesses questioned were demonstrating growth, with new business pipelines increasing in the last three months.
In April 2012, the international accountancy organisation BDO, in conjunction with The Twenties Club, launched the inaugural BDO Thames Valley Business Barometer - a quarterly snapshot of business and economic confidence in the region.
Over 120 senior Thames Valley business leaders, from a cross section of companies, completed the first quarterly survey, which was combined with thorough company interviews. Participants were provided with an opportunity to appraise their own performance as well as discuss their thoughts on the general confidence within the Thames Valley.
More than 50% saw an increase in revenue in the last quarter, and 67% of SMEs were forecasting additional growth in the next quarter. Profits are up as well for 47 %, although there is still a drive to increase efficiencies and deliver more for less. However, despite optimistic order books and outputs, around half report no overall improvement in general economic conditions.
Going forward, many are looking at the need to increase investment. Building new business pipelines, people development and advancements in technology are seen as core investment areas. Almost half were looking to increase marketing spend in the next three months and a third investing in training & development and technology.
Local business leaders across the Thames Valley see the main challenges as the development of skills and the availability of finance, with just one in ten saying it has become easier in the last quarter.
Tuesday 18 September 2012 16:32:12 by
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