The business outlook is positive for exporters in the Sheffield City Region
The outlook for Sheffield City Region businesses which internationally trade is positive according to the latest Quarterly Economic Survey (QES). Over the last quarter, on balance, more businesses in the service and manufacturing sectors saw an increase in their activities in the export markets.
The survey run by the region’s Local Enterprise Partnership (LEP) and four Chambers of Commerce and Sheffield University Business School showed that the highest proportion of respondents thought their prospects would be negatively impacted if there was complete withdrawal from the European Union (EU) with only one in five in favour.
Commenting on the QES results for quarter one, Prof. Andrew Simpson of the Sheffield University Management School, said: “The QES results show a positive outlook for manufacturing and service sector businesses in the Sheffield City Region that export. The figures are inline with national results and in accordance with the government’s push to increase exporting. The survey is an important opportunity for businesses in the region to share their business concerns for the LEP and Chambers to offer the right business services and to lobby local and national government and decision-makers to help shape business policy and support.”
The survey results on international trade and export also show that the North American market has improved over the last quarter while the EU also showed growth for some businesses. Looking forward over the next three months, the majority of exporters expected to see an increase in turnover with a low 10% expecting this to decline in the year ahead. The figures for confidence in profitability were similar, with a significant proportion of businesses expecting this to remain constant.
Every quarter, businesses can take the online survey for a chance to win free flights from Doncaster Sheffield airport to a European destination and attend a breakfast networking to hear the results and latest regional business and economic affairs. The Quarterly Economic Survey for quarter two, sponsored by RBS South Yorkshire & North Derbyshire, opens Monday 23 March 2016.