The Black Country Chamber has reported an increase in domestic sales for Black Country businesses for a second consecutive quarter. Almost half of the businesses surveyed within the region for The Quarterly Economic Survey (QES) reported a rise in sales.
The QES is a survey that is conducted each quarter by the British Chambers of Commerce. The results form one of the largest independent economic surveys of businesses in the UK.
Of the businesses taking part in the Black Country Chamber’s Q2 economic survey 49 per cent reported a rise in domestic sales in the last quarter – that’s seven per cent up on the previous quarter.
Forty-two per cent of the firms responding to the survey reported a rise in domestic orders, indicating continued growth despite challenging conditions as a result of Brexit and the general election.
The increase in both domestic sales and orders has boosted confidence amongst the region’s business community and 70 per cent of firms completing the survey anticipate that their turnovers will continue to increase over the next 12 months.
According to the Black Country Chamber’s website, chief executive Corin Crane said: “Uncertainty has continued to dominate the political landscape in recent months, yet despite this businesses across the Black Country have remained steadfast in their ability to thrive under challenging conditions. The fact that almost half of businesses surveyed within the region have seen a rise in sales and orders is testament to their tenacity and great news for the economic growth of the local area.
“With the general election having taken place and Brexit negotiations now underway, it is now important to focus on harnessing a stable environment that is conducive to the growth and development of the local business community. Therefore, over the coming months we will be working closely with our colleagues at the British Chambers of Commerce and throughout the national Chamber network to ensure that there is clarity coming from government in relation to Brexit and the impact that will have on businesses moving forwards.”
For more information on the QES or the Black Country Chamber of Commerce please visit its website.