The latest Quarterly Economic Survey (QES) from Business West provides a snapshot of the challenges and opportunities facing businesses in the South West as 2024 came to a close. This report offers valuable insights into the current economic landscape and serves as a barometer for business sentiment in the region.
The findings of the Q4 survey reveal a cautious business environment, shaped by economic pressures and a sense of uncertainty. While there are pockets of optimism, particularly around individual business prospects, the overarching sentiment reflects the challenges that many companies continue to face.
Notably, the survey revealed a significant rise in concerns over taxation, with 62% of businesses identifying it as a pressing issue, up from 33% last quarter. This marks a substantial increase compared to previous quarters and underscores the growing frustration among businesses regarding the current tax system. Many respondents expressed concerns about how taxation policies are impeding their ability to compete, grow, and invest in the future.
