Disappointing Last Quarter of 2014 Reaffirms Election Focus

Results from Business West’s local business survey representing the position of over 120 businesses surveyed between 10th November and 5th December in Swindon and Wiltshire found:

• Domestic sales decreased one point to 47%
• Export sales decreased four points to 39%
• Recruitment over the past three months increased three points to 26%
• Expectation to take on staff in the next three months rose one point to 24%
• Cashflow decreased three points to 31%
• Business confidence decreased one point to 64%

Commenting on the local business survey results for quarter 4, Ian Larrard, Director of the Swindon & Wiltshire Initiative, part of Business West, said:

“The results of our local business survey of firms in Swindon and Wiltshire carried out in November and December confirm that there is still a lot of work to be done to secure sustainable growth. Last year had the hallmarks of an historic year in which the UK finally pulled out of a crippling recession. However, these results show that our local economy closed out on a whimper in contrast to the national picture which saw business bounce back to close out the year. The booming business confidence we saw in our region in the first two quarters of the year was muted in Q3 by a disruptive Scottish Independence Referendum and over the last three months we have seen confidence decrease again; back below this time last year. 

“Whilst this is not the great news we had hoped for, it is not necessarily bad news either, there are some positive messages to be taken. In December we saw unemployment in the South West fall again and remain well below the national average and in Swindon and Wiltshire our survey results saw increases in both current recruitment and intentions over the last three months. We also saw upbeat news in international markets, with export sales up on the year despite a decrease this quarter. This bodes well for our #GetExporting campaign aiming to get 2,020 more local businesses exporting by 2020.

“Figures that saw us close out 2014 on a flat note are a wake up call for business to lobby politicians at this crucial political time. Shortly we will be releasing our business manifesto, ensuring that the voice of business features in every prospectus and in the words of every campaigning candidate. A year with so much promise ended somewhat disappointingly, with decreases in domestic sales and business confidence. With the May election looming  we must remind politicians that as the punches start to fly between parties on important issues such as the NHS and immigration, business issues should not fall by the wayside. After all, in the famous words of Bill Clinton: ‘it’s the economy, stupid.’”