Swansea Bay businesses are continuing to perform and are looking ahead with confidence according to results from Swansea Bay Business Club’s latest Business Barometer.
47 per cent of businesses surveyed reported a stronger performance over the last quarter in comparison to the previous three months. Impressively, only 15 per cent of businesses said that they had performed weaker over the last three months.
In addition to this, 55 per cent of businesses surveyed from across the region believe that their business will continue to perform even better over the coming three months.
The Business Barometer Survey was designed by Swansea Bay Business Club to monitor the performance and attitude of local businesses towards the economy, as well as to provide a platform for local businesses to voice their opinions.
President of Swansea Bay Business Club, Hayley Davies, said: “Once again we are pleased to see that the findings of our Business Barometer show there is confidence amongst businesses across the Swansea Bay region.
“The Barometer is our way of keeping in touch with local businesses and gauging the climate across the region. It also gives people a chance to voice their opinions and thoughts on business performance in Swansea Bay.”
Looking further ahead, whilst 63 per cent of businesses said that they expect an increase in their profitability over the coming quarter, 26 per cent said that price pressure from customers was likely to be the largest barrier to the growth of their business.
Bruce Roberts,Chair of the Business analysis group of the club continued: “The club, on the whole, is encouraged by these findings. Whilst some businesses feel that customer price pressure may present them with growth barriers, it is not at an alarmingly high rate, and we trust that they will find a way to overcome any issues facing them.”
Swansea Bay Business Club’s most recent event was their flagship lunch held at the Brangwyn Hall. Former Home Secretary, Alan Johnson MP, joined guests at the lunch as guest speaker.
The Club’s next lunch is with Owain Davies, Managing Director of AMCANU, at the Halliwell Centre in Carmarthen on June 23rd.