Mon, 17 Apr 2017 | BUSINESS NEWS
Britain’s companies enjoyed a decent start to the year and are heading into spring with confidence, in positive news for the economy in the wake of the vote to leave the EU.
The British Chambers of Commerce (BCC) said its members were growing in confidence about turnover and profitability, although concerns remain over employment and inflationary pressure.
Responses from more than 7,000 businesses show “solid growth” in the manufacturing and services sectors, with both enjoying rises in domestic and export sales compared to the final quarter of 2016.
Manufacturing was singled out as doing particularly well, especially in the exports market, with higher numbers of firms reporting improved sales and orders than in previous quarters.
In services, while performance “has not returned to historic trend levels”, it is improving from its decline in the two quarters immediately following the EU referendum, the BCC said.
However, the rising cost of raw materials and overheads, inflationary pressures and recruitment difficulties are still causing problems for firms.
Dr Adam Marshall, BCC director-general, said short term prospects for business look strong, but warned about what could lie ahead.
“In the here and now, many businesses are resilient and experiencing solid growth. Many firms tell us their short-term expectations are strong, but that the medium-term picture is far from clear.
“The rise in inflation seen since last year's EU referendum is the biggest immediate pressure facing most firms. While manufacturers have enjoyed a good quarter, they are facing higher costs at the factory gates, which increasingly translates into companies having to raise their own prices.
“With inflation already above the Bank of England’s target, this squeeze on firms looks set to continue in the medium term.”
Subscribe to the Business Sale Report here
This opportunity involves two companies specialising in exclusive, limited-edition LPs, collaborating with both independent and renowned artists, and selling solely through established e-commerce and social media channels. With a thriving customer da...
This well-established company in the Midlands offers a unique and cost-effective alternative to bi-folding doors and has built a robust, loyal customer base over its 20 years of operation. With a knowledgeable, in-house trained staff that ensures smo...
Project Mazu stands as a prominent water utility subcontractor, renowned for its reliability and expertise in servicing local water authorities and construction firms. The company boasts established framework agreements contributing to a strong repea...
04
|
Jul
|
Government reverse-turns on small business filing requirement rules | BUSINESS NEWS
Ministers are set to shelve reforms to Companies House filin...
03
|
Jul
|
Energy services firm completes third acquisition | BUSINESS SALE
Energy services firm Earnz plc has completed its third acqui...
03
|
Jul
|
Newcastle life sciences firm falls into administration and ceases trading | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, h...
04
|
Jul
|
Government reverse-turns on small business filing requirement rules | BUSINESS NEWS
Ministers are set to shelve reforms to Companies House filin...
03
|
Jul
|
Management buy-in at automotive recruitment company | MBO/MBI
Pybus Recruitment, an automotive recruitment company based i...
03
|
Jul
|
Matthew Freud exploring possible sale of eponymous PR consultancy | BUSINESS SALE
Leading public relations executive Matthew Freud (pictured) ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.