Firms in Swindon and Wiltshire ended 2015 on a confident note with higher domestic and international sales and improved cashflow, according to the results of Business West’s latest survey.
But with fewer firms planning to recruit over the next three months and lower order figures – along with the slowing global economy – 2016 is likely to be a year of challenges, the region’s largest business organisation warned. 
It called on the Government to act on “fundamental issues” such as infrastructure and skills that it said were holding back local businesses.
Nearly 90 firms in Swindon and Wiltshire took part in the last Business West quarterly trends survey in November.
The results show higher domestic sales were achieved by 44% of respondents – up six percentage points on the third quarter – with a surge in exports – up 21 points to 55%.
The percentage of firms with positive cashflow rose by six points to 38% while overall business confidence remained high at 65%.
However, the results also revealed weaker recruitment figures and sales figures compared to the same period in 2014.
Director of the Swindon and Wiltshire Initiative – part of Business West – Ian Larrard, pictured, said: “These results should give Swindon and Wiltshire businesses a boost to start the year. With sales and cashflow on the up, it is no surprise to see that almost two thirds of firms are confident for the year ahead.
“That said, the job is far from done. With [Chancellor] George Osborne warning that the UK faces a ‘cocktail’ of serious threats from a slowing world economy, it is clear that there are warning signs of potential trouble ahead.
“Given the global uncertainties, it is vital that the Government makes 2016 a year of action on fundamental issues that we know are holding our local firms back, such as infrastructure and skills.”
Business West represents more than 16,000 businesses across the South West through its network of chambers of commerce and initiatives.
