Skip to content

Business & Economy

North East firms more upbeat amid ‘improving picture’, says Chamber survey

Businesses in the region are more confident about future financial prospects, according to new findings.

The North East Chamber of Commerce’s latest Quarterly Economic Survey shows profit and turnover optimism has risen amid fresh export and investment buoyancy.

It says an “improving picture” around inflation, exchange rates and energy prices has also sparked greater positivity.

However, the research, carried out in November, warns half of firms are still gripped by staffing worries, particularly around full-time roles.

And while energy price fears have receded, the survey says companies are now facing heightened challenges around competition, red tape, tax, crime and congestion.

Andrew Haigh, Chamber president and Newcastle Building Society chief executive [pictured, above], said: “These results show an improving picture regarding business concerns around inflation, exchange rates and energy prices.

“They also show an improvement in UK orders and sales, together with an increase in export orders and sales.

“Combined with a reduction in concerns surrounding interest rates and inflation, there are signs of positivity as our businesses think about the year ahead.”