Survey reveals 'steady Welsh business growth'

A survey out today reveals businesses across Wales are showing "steady signs of growth", with more than 95 per cent of businesses looking to retain their existing workforce or recruit in the next three months.

Live updates

'Growing' recruitment pressures for Welsh businesses

The South Wales Chamber of Commerce's latest Quarterly Economic Survey reveals business across the country are "moving into Spring with increasing confidence."

However, Graham Morgan, the Director at the South Wales Chamber of Commerce, believes more can be done to ensure Wales does not lag behind the rest of the UK in terms of exports.

While export sales and orders in Wales remain at a similar level to Q4 of 2013, it appears that Wales is not benefitting from the same progress in international markets as other Chambers are reporting throughout the UK. There are many Welsh businesses with excellent products and services and is vital that they are aware of the support available to help them increase their international footprint.

If the professional sector can help highlight the support available to businesses looking to begin or grow exporting services, in both a financial and advisory capacity, then Wales can start to become a big player on the world stage.

Despite many looking to recruit over the coming months, businesses are reporting growing pressures in recruiting for certain roles.

Engineering and ICT skills are, as always, in short supply, but we are also having reports of gaps in middle management and marketing as well.

With access to super fast broadband and better digital connectivity, we anticipate that ICT and social media skills will be of even greater importance over the next year.

Ninety-eight percent of businesses surveyed increased or maintained their levels of investment in staff training and equipment, which is another indicator of their confidence.

With the highest ever response to our survey, including input now from businesses in north Wales, we feel confident in the growth opportunities that lie ahead for Welsh businesses.

– Graham Morgan, Director, South Wales Chamber of Commerce

Survey reveals 'steady Welsh business growth'

Welsh businesses that trade internationally have continued to perform solidly Credit: PA

The latest quarterly survey from South Wales Chamber of Commerce shows businesses in Wales are showing steady signs of growth.

Welsh businesses that trade internationally have continued to perform solidly, with 85 per cent reporting that sales and orders have either remained consistent or increased.

The Quarterly Economic Survey acts as a barometer for the strength of the Welsh economy, and, for the first time, includes results from across the whole of Wales, with the inclusion of businesses from north Wales.

The survey for the first quarter of 2014 shows that more than half (61 per cent) of small and medium-sized businesses from across Wales are expecting to increase their profitability during the next 12 months, with 28.7 per cent expecting to maintain their current profit levels.

The survey also reveals that 95 per cent of businesses are looking to either retain their existing workforce or recruit in the next three months, the highest figure in the last seven years and one that is consistent across Wales.

Despite this, more than half of businesses (53 per cent) revealed that they had experienced difficulties in recruiting during the last quarter.

Advertisement

Back to top