Businesses in Bath and across the West have increased sales and orders despite the harsh trading conditions, according to Business West’s latest quarterly economic survey.
As a result they are coping better than their counterparts in other areas of the UK with the national picture worsening over the past quarter.
Across the country fewer firms are looking to invest in training and plant and machinery, and confidence in future turnove
r and profit has fallen to levels last seen at the end of 2011.
However, the regional outlook is far from rosy with few West firms looking to recruit staff. Some 70% expect their prospects to remain the same over the next few months with 70% also operating below capacity.
Phil Smith, managing director of Business West, which runs Bath Chamber of Commerce, said: “Businesses are not prepared to commit to investment decisions in the current climate of uncertainty.
“Companies locally would like to see the Government do much more to encourage growth with immediate measures to boost confidence. The focus needs to be on some real decisive action to get the economy growing. Until businesses can see a more convincing growth strategy and real action to stimulate demand, then local companies will remain cautious.”
He said businesses needed to be encouraged to look to new markets, develop new products and invest.
“Only then will we see more positive signs of recovery in the UK economy,” said Mr Smith.
