Business Services

Majority of North West businesses forecast growth for 2016

Forecasting, North West Business Forecast Growth - SantanderCB

A new survey has found that businesses in the North West are broadly confident about their prospects over the coming 12 months. According to research by Tindall Perry Partnership, the Manchester-based finance recruitment consultancy, 80% of the region's companies believe their turnover will increase this year, with 49% predicting a rise of between 5% and 15%. Just under a third (29%) have forecast their turnover to grow between 1% and 5%, while a fifth of respondents (21%) are confident their turnover will increase by more than 15%. Meanwhile, 35% of survey respondents cited improving profitability as their key concern for the coming year and 30% pointed to greater levels of competition as a potential barrier to growth. North West businesses appear to be ramping up recruitment efforts in 2016, with the majority (69%) reporting plans to grow their workforces and a further 56% planning to hire at management level. Tindall Perry's managing director Leyla Tindall said: 'The last few years have been challenging but it certainly feels like the North West business community has turned a corner.'


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

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