Swindon and Wiltshire’s economy was growing ahead of the EU referendum with business confidence, job creation and sales all climbing, according to the latest survey by Business West, the region’s largest business organisation.
More than 170 businesses took part in the poll, which was held in May and June, before the referendum result on June 24. 
The results show that despite fears that the bitter referendum campaign would hit business confidence, it actually rose by five percentage points to 63% on the previous quarter.
Other results from the survey show:
- Almost half (48%) of firms reported increases in domestic sales – up six points on the quarter
- International sales decreased marginally, but orders increased three points to 36%
- Just under a third of firms (32%) plan to take on staff this quarter, up by six points.
However, most major indicators were below levels seen this time last year.
Ian Larrard, director of Business West’s Swindon and Wiltshire Initiative, pictured, said: “The latest findings paint a positive picture for Swindon and Wiltshire.
“Although most indicators were higher this time last year, it is great to see that our region’s businesses were reporting higher sales and confidence ahead of the EU referendum.
“The context has changed somewhat since then as a Brexit vote has raised more questions about future growth. But nonetheless it is encouraging to see our economy bounce back after it showed signs of slowing last quarter.
“It is too early to tell what impact the EU referendum decision has had on firms across our county, but these results show that as the Brexit uncertainty intensified in the weeks before the referendum, our region’s businesses were still performing strongly.”
A Business West poll of 700 firms across Swindon and Wiltshire, Bristol, Bath and Gloucestershire ahead of the EU referendum vote showed that 62% of business people had planned to vote to remain, compared to 22% who said they would vote to leave – a ratio of almost three to one.
Business West, which represents more than 18,000 businesses across the South West through its chambers of commerce and initiatives, wants to hear how Brexit is affecting businesses in terms of confidence, investment and recruitment decisions. They can do this by contacting its policy team at policy@businesswest.co.uk
