South: Business leaders positive and confident for future, survey shows

Outlook among business leaders across the south is positive – verging on rosy – according to a recent Business Pulse survey conducted by law firm Coffin Mew.

A whopping 70% of businesses surveyed said that they were feeling more confident about the prospects of their business than they were 12 months ago, with a further 13% claiming to have ‘never been more confident’.

This positive attitude is also reflected in the companies’ plans for growth in the coming year, with more than half of respondents looking to recruit more staff, and just 5% forecasting a decrease in their workforce.

Alongside intentions to increase their number of employees, a large number of businesses interviewed were also looking to grow more generally as a business, with two-fifths projecting a 1-10% growth in revenue over the next year. Almost a third were more ambitious with their projections, targeting an 11-20% growth, with a very confident 6% striving for a revenue growth of more than 100%.

Such optimism from businesses in the south is great news for the region, bringing with it a boost to the local economy as well as employment prospects.

What will be even more well received by local communities is news that less than 1% of businesses surveyed by Coffin Mew are considering relocating out of the south in the 12 months – a ringing endorsement for the region’s thriving business scene.

Ian Dawes, partner at Coffin Mew, commented: “It is fantastic to see business confidence across the south soaring. Yes, survey respondents echoed what we have seen reported ever since the referendum about Brexit being a concern for business, but in spite of that, the overwhelming stance of the businesses we spoke to was one of hopefulness and positivity.

“We are very fortunate to operate across the south, which is hotbed of talent, creativity and business acumen.  To see so many businesses planning to expand and develop in the coming months is an exciting prospect, for myself as a fellow businessman, but also as a member of the local community. At Coffin Mew, we have big plans for our future, and look forward to celebrating the firm’s success with our contemporaries in the region as they continue to forge their own paths.”