Exeter Business Survey Results March 2016

The latest Exeter Business Survey carried out by the Exeter Chamber of Commerce and Industry has indicated that business is in the city is flourishing. 

62% of businesses are reporting that they have seen their sales figures rise this last quarter. This is the highest record of increase in sales for 2 years.

Businesses in Exeter are also recording the best figures for investment in the last quarter since the commencement of the recession in 2008. 89% of businesses report that they have invested in the last quarter and are still planning to keep investing in the near future.

Attendees at the Bank of England panel meeting held on Thursday 17th March, at which the survey was presented, gave evidence that while businesses are performing well and investment is still a keen priority, there is an underlying issue with business confidence which could be due to the forthcoming Brexit vote.

Derek Phillips, Vice President of Exeter Chamber of Commerce says ‘The results of this quarter’s survey show a really positive outlook from Exeter businesses and augers well for the future prosperity of the city.’

Due to the impending EU referendum taking place on 23rd June, views on the Brexit matter were also gathered to access the opinion of the business community in Exeter.

51% of businesses have reported that they believe EU membership has some importance to them and in addition 70% perceive that there would be some kind of risk to their business if the UK was to leave the EU.  Furthermore, 84% of businesses have the view that leaving the EU would pose a risk to the to the UK economy.

The Chamber intends to survey the membership as to their voting intentions nearer the date of the referendum, when hopefully more information will have become available to help business decide on their vote.