Positive signs for Worcestershire & Herefordshire

Positive signs for Worcestershire & Herefordshire

Confidence remains high among businesses in Herefordshire & Worcestershire despite the many headwinds businesses are facing from an uncertain global market.

The Herefordshire & Worcestershire Quarterly Economic Survey (QES) results for the first quarter of 2016 signal a positive year ahead for businesses in the two counties.

A particular highlight of the survey showed 31% of businesses are expecting to increase their workforce over the next three months.

The region’s exporters are also continuing to defy the national downturn, with 89% of businesses seeing domestic sales and export sales increase or remain constant during the quarter.

Gary Woodman, executive director of Worcestershire Local Enterprise Partnership, added: “Recently we announced that Worcestershire has shown one of the fastest rates of growth in economic output nationally in recent years and this quarter’s QES results act as a reminder that businesses are still working hard to drive growth in our local economy.

“It is good to see that business confidence for the future for an increased turnover and profitability has risen significantly over the last quarter and that businesses are expecting to increase the size of their workforce.

“Companies have also succeeded in increasing their export sales despite the challenges faced in the global economy.”