Businesses in Dorset defied downturn fears with a positive outlook for the local economy in the latest results of a quarterly survey.
Some 61% of respondents described the economic climate as good or strong/positive, while just over a third said that it was okay. More than two-thirds said that the economic climate in their own sector was good or strong/positive.
The vote of confidence came in the latest Quarterly Economic Survey held by Dorset Chamber of Commerce and Industry (DCCI) with the British Chambers of Commerce (BCC) for the second quarter of 2017.
Other results at a Dorset level found that the domestic market was performing well but showing signs of slowing and that cashflow had improved although investment intentions were subdued apart for training.
Other key indicators showed that employment grew with a good outlook for the third quarter of 2017 although businesses were still facing challenges recruiting staff.
The outlook for turnover and profitability for the next 12 months also improved.
DCCI chief executive Ian Girling said: “Dorset businesses have consistently demonstrated their resilience over recent years.
“There is no doubt that the economy is facing headwinds and continued political uncertainty is hindering investment.
“The ongoing positivity shown by the strong and vibrant Dorset business community is encouraging despite these concerns.”
He added: “It must be noted that the survey was open during the general election and many respondents completed the survey before the election.
“There was already concern regarding the economy and uncertainty as we approach Brexit, and this concern was compounded by the Government losing its majority.”
The BCC Quarterly Economic Survey (QES) is the largest and most representative independent business survey of its kind in the UK with about 7,000 respondents.
DCCI, the county’s voice of business, adds supplementary questions for Dorset firms on the issues and challenges at a local level.
Nationally, results showed more subdued growth with a weakening in domestic markets although there was growing confidence in long term profitability and turnover.
DCCI, the county’s leading business support organisations, publishes the local results with analysis from Dorset County Council.
Ian said: “The issues raised in the Quarterly Economic Survey are used by the BCC at a national level to influence Government policy.
“The survey can make a real difference. That is why it is so important to take part and my thanks go to everyone who continues to have their say.”
