When news happens, text SDE and your photos or videos to 80360. Or contact us by email and phone.
Confidence in economic recovery on the rise, new survey shows
A HAMPSHIRE company is behind research revealing confidence in an economic recovery among those at the top of mid-market businesses.
Vistage, based in Hedge End, conducted a survey of hundreds of CEOs, MDs and owners of largely mid-market businesses last month.
The subsequent Vistage Mid-Market Confidence Index has found that the country’s mid-market businesses are optimistic and reporting better economic conditions, sales forecasts and profitability expectations.
These firms are also reporting action, job creation and investment in fixed assets.
Vistage is an organisation for CEOs, providing peer-to-peer advisory boards for MDs, CEOs and owners of Britain’s mid-market businesses, and has 800 members, which it surveys quarterly.
Its UK members in total employ 100,000 people and produce annual revenues of nearly £9 billion.
Of those members, 459 responded to the survey.
Seventy per cent report improved economic conditions compared to about a quarter at the start of the year, and similar numbers expect this to continue in the next year.
The research revealed 61 per cent of the companies expected to increase their number of employees in the next year, about one third thought numbers would stay the same, and seven per cent expected a reduction.
Just over half the respondents (51 per cent) are increasing their expenditure on capital investments, while only six per cent plan to reduce.
And 80 per cent predict their business’s revenue will increase over the next year.
Steve Gilroy, CEO of Vistage, said: “Mid-market business owners are reporting that they are investing again, they are recruiting, and many already have buoyant order books that they are now tooling up to deliver.
“Vistage’s latest research shows them to be very confident about the recovery and their prospects, leading them to invest strongly in capital assets and creating jobs.
“It is a very dramatic turnaround.”
Comments are closed on this article.