海角视频

Oops.

Our website is temporarily unavailable in your location.

We are working hard to get it back online.

PRIVACY
Economic Development

North East business confidence remains fragile, Chamber survey suggests

The Newcastle skyline(Image: Newcastle Journal)

Business confidence in the North East remains fragile in the run-up to next month’s Budget, a new survey suggests.

The quarterly economic survey from the North East Chamber of Commerce reveals falling investment in both staff and equipment, though many cost pressures on businesses are starting to ease. Business activity remained subdued, the survey found, with a continuing drop in 海角视频 orders. The number of businesses exporting goods or services rose slightly during the quarter, however.

Chamber members have given a mixed reaction to the Government’s Employment Rights Bill, with 14% in favour, 41% neutral but 25% concerned about potential costs and compliance burdens. The Chamber said that many businesses in the region welcome the aims of modernising employment practices, but want more clarity and for implementation on any new measures to be proportionate.

Rhiannon Bearne, deputy chief executive at the Chamber, said, “This quarter’s results show a business landscape still under pressure. Some costs have eased, but businesses continue to face weaker workforce performance, subdued investment and rising concerns over inflation and taxation.

Rhiannon Bearne, North East England Chamber of Commerce’s policy and representation director(Image: handout from North East England Chamber of Commerce)

“The Employment Rights Bill is a significant development, and businesses broadly welcome its objectives. However, they also want clarity, consultation and proportionate implementation to ensure it works in practice.”

Chamber president Deb Walton said: “These results underline the difficult conditions businesses continue to face. Persistent concerns around inflation, taxation and workforce challenges are weighing on confidence, while lower investment and weakening sales show how tight margins remain.

“Amid these pressures, there is still a clear sense of determination and adaptability across our region. North East businesses are resilient and committed, focused on protecting jobs, strengthening productivity and preparing for opportunities as conditions allow.

Last week the Chamber published its Budget submission, calling for measures to unlock economic growth and support job creation across the region. It said there should no new tax burdens on business and that the Chancellor should apply her fiscal rules with flexibility to support commitments in regions like the North East.