Swansea Bay Business Club’s last Business Barometer of 2017 has painted a picture of optimism and stability amongst businesses from across the region. Respondents from sectors including manufacturing, finance, construction and retail signalled that their businesses have continued their strong performances in to the final quarter of 2017.
50% of those surveyed stated that their business has performed better over the last three months in comparison with the previous three, whilst a further 36% had stayed the same, with just 13% indicating a weaker performance.
A combined 90% of respondents also predicted that they would either perform stronger or the same over the coming three months.
President of Swansea Bay Business Club, Hayley Davies comments: “It is very pleasing for us as a club to see that our members businesses are continuing to perform in to the final quarter of the year and that confidence and optimism remains for the future. One of our key remits is to promote prosperity and growth amongst businesses within the region and we are always delighted to see positive results from our barometer.”
With regeneration underway across the city, including the beginning of the £12m investment to change the face of the Kingsway in preparation for the new Digital District as well as the £15m redevelopment of Parc Tawe and the planned revamp of Castle Square, the outlook for Swansea and its businesses appears bright.
Looking ahead, results from the barometer remained positive as an impressive 54% of businesses predicted an increase in their profitability over the next three months with 32% expecting no change. Further to this, 31% foresee an increase in capital investment over the coming three months with 63% expecting the same levels as previously.
Hayley continued: “The results from our latest barometer reflect the positive attitude across the city at the moment. As we see the first stages of investment from the City Deal, announced earlier this year, and other on-going regeneration projects, as well as the imminent decision on whether or not Swansea will be named the UK City of Culture in 2021, it is an exciting time for the city and all of the businesses within it.”