Mon, 17 Apr 2017 | BUSINESS NEWS
Britain’s companies enjoyed a decent start to the year and are heading into spring with confidence, in positive news for the economy in the wake of the vote to leave the EU.
The British Chambers of Commerce (BCC) said its members were growing in confidence about turnover and profitability, although concerns remain over employment and inflationary pressure.
Responses from more than 7,000 businesses show “solid growth” in the manufacturing and services sectors, with both enjoying rises in domestic and export sales compared to the final quarter of 2016.
Manufacturing was singled out as doing particularly well, especially in the exports market, with higher numbers of firms reporting improved sales and orders than in previous quarters.
In services, while performance “has not returned to historic trend levels”, it is improving from its decline in the two quarters immediately following the EU referendum, the BCC said.
However, the rising cost of raw materials and overheads, inflationary pressures and recruitment difficulties are still causing problems for firms.
Dr Adam Marshall, BCC director-general, said short term prospects for business look strong, but warned about what could lie ahead.
“In the here and now, many businesses are resilient and experiencing solid growth. Many firms tell us their short-term expectations are strong, but that the medium-term picture is far from clear.
“The rise in inflation seen since last year's EU referendum is the biggest immediate pressure facing most firms. While manufacturers have enjoyed a good quarter, they are facing higher costs at the factory gates, which increasingly translates into companies having to raise their own prices.
“With inflation already above the Bank of England’s target, this squeeze on firms looks set to continue in the medium term.”
Subscribe to the Business Sale Report here
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
02
|
May
|
Two country hotels sold following confidential marketing process | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been so...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
02
|
May
|
Vehicle recovery firm rescued with pre-pack sale | BUSINESS SALE
A vehicle recovery and maintenance business has been acquire...
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.