SW businesses resilient as inflation and recruitment issues persist

Business West has just published the results of its Q1 2023 Economic Survey.

The full report can be found here  https://www.businesswest.co.uk/resources/quarterly-economic-survey-q1-2023

Based on 319 businesses in the South West, mostly with less than £10m turnover, it suggests times remain tough but with some signs of improvement. The picture is slightly rosier / less gloomy among manufacturers than among service businesses.

  • Overall business confidence remains negative but improved since Q4 2022
  • 60% report their resilience as good or excellent
  • Cost inflation, stagnating sales and recruitment remain the biggest concerns
  • Targeting new customers or markets and finding new ways of working are the main adaptation strategies


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John Morgan Partnership

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