Exeter Business Survey – March 2009 - Exeter Chamber of Commerce and Industry

Exeter Business Survey – March 2009

Quarterly survey reflects current economic climate

As expected the Exeter Chamber of Commerce & Industry member survey (1^st quarter 2009) reflects the national economic situation, with sales and margins continuing to show a downward trend.

Derek Philips, Chairman of Exeter Chamber of Commerce & Industry said, ‘Although the survey has confirmed that Exeter's position is similar to many other cities there are some promising aspects. Chamber members are continuing to invest in the future with over 68% reporting positive plans. Such investment will be crucial if the Exeter economy is to be ready to take advantage of the opportunities arising as and when the economy upturns.'

Over 100 members from small, medium and large companies were surveyed this quarter with the highest recorded level of businesses reporting a decrease in profit margins. At 46% this is more than double the figure from March 2008.

Over 30% of companies are reporting a reduction in employees although only 15% are predicting future further cuts.

Interestingly 50% of respondents had implanted or planned a pay freeze with a further 12% reporting a reduced working week.

Despite the general concern there was a positive outlook for the future, with 85% of Chamber members reporting high to medium confidence.

Exeter Chamber of Commerce & Industry represents the interests of 460 small, medium and large businesses in Exeter, with the Chamber's quarterly business survey reporting a cross section of 20% of its members. For more information about Exeter Chamber of Commerce & Industry membership and the quarterly survey, visit www.exeterchamber.co.uk

Exeter Business Survey - March 2009