The latest Exeter Chamber of Commerce Business survey, compiled for and presented at the quarterly meeting of the Bank of England Exeter Panel, shows members reporting falling sales and margins in the last quarter.
Despite this, the businesses surveyed indicating high confidence for business conditions (31%), grew by 2 percentage points. Businesses reporting an intention to make increased investment in the future grew to 66%, from 45%, and the number of employers expecting to increase salaries by more than 2.5% has grown from 36% from 21%.
Derek Phillips, vice president of Exeter Chamber of Commerce and chair of the panel meeting, said; “Despite the turbulent and uncertain political environment businesses seem to be optimistic for the year ahead with improved confidence and investment intentions.
The significant proposed wage increases reflect the increase in minimum wage, taking effect from 1 April.”
The full survey results can be viewed on the Exeter Chamber website – www.exeterchamber.co.uk/exeter-business-survey