A survey of more than 100 Northamptonshire businesses has painted a “hugely encouraging” picture, with increases in recruitment and exports over the last three months.
Northamptonshire Chamber’s quarterly economic survey looks at the period of April to June, and showed large numbers of firms recruiting new staff, investing in training and exporting their products and services abroad.
The results of the survey are separated into two industry sectors – services and manufacturing.
The survey saw a sharp increase in the number of firms exporting, with 73 per cent of services firms reporting an increase in export sales and 70 per cent reporting an increase in advance international orders. Also, 80 per cent reported export sales had increased or remained the same.
At home, 82 per cent of firms said UK sales had increased or remained the same, up from 56 per cent in the first quarter. But 73 per cent of services companies said sales were the same or increased, down from 84 per cent in the last quarter, and 27 per cent saw a fall.
In terms of recruitment, the picture was brighter for both sectors. Employment increased for 45 per cent of manufacturers and 23 per cent of services businesses, with the majority of these being for full time roles.
And 52 per cent of manufacturers and 30 per cent of services companies are expecting to employ more staff in the next quarter, with none expecting their workforce to decrease.
The most common concerns of county businesses going forward were cited as competition and corporate taxation. Manufacturers were also worried about raw material prices and exchange rates, while those in the services sector said that business rates were an issue.
Paul Griffiths, chief executive of Northamptonshire Chamber, said: “The results of our latest survey are hugely encouraging. To see yet another large increase in exporting activity is phenomenal.
“This, in addition to jobs being created and an increase in investment in the county’s workforce through staff training, is great news for our local economy.
“However, while it is wonderful to see our local companies employing people again, many who responded to the survey stated that they are still operating below full capacity, particularly in the services sector. We must not be complacent and continue to try new markets and invest in our people and businesses to create even more jobs.”