Confidence among businesses in Swansea Bay is continuing to blossom, according to new research.
The latest Business Barometer from Swansea Bay Business Club reveals that almost 60 percent of those surveyed felt their firm performed somewhat stronger over the past three months than they did in the previous three.
In addition, almost 30 percent of those surveyed said their performance remained steady.
The Business Barometer survey, which was designed by Swansea Bay Business Club to monitor the performance and attitude of local businesses towards the economy, also found that the outlook amongst businesses, particularly among small and medium sized enterprises (SMEs) in the region, for the next three months, are positive.
More than half of those asked were optimistic about their projected performance over the next 3 months.
There was positivity too when it came to the all-important bottom line, with a healthy 64% predicting increases in their profitability.
And there was good news on the employment front too, with almost 40 percent making plans for an increase in staffing levels over the next three months, and with just under a quarter of those surveyed intending to make a slight increase in capital investment.
President of Swansea Bay Business Club, Bruce Roberts, said the picture among local business was an encouraging one, and it was pleasing to hear local businesses continuing to talk of the future with optimism.
“Swansea Bay Business Club is encouraged by these latest findings, which have a real sense of optimism to them. I am particularly pleased to hear that more than half of those asked felt that their businesses were on a much stronger footing in most recent months.
“And we look forward to the next Business Barometer where we hope to see further evidence that businesses in the area are continuing on the road to recovery.
“The business club is dedicated to supporting the region’s businesses in any way that we can and we hope to use these findings to focus our on going discussions with key decision makers and influencers that can assist businesses in the area.”