Exeter businesses bounce back! 50 more Chamber members report sales growth

The latest Exeter Chamber of Commerce Business survey shows that there has been a 50% rise in the number of Exeter Chamber members reporting an increase in sales in the 2nd quarter of 2009.  In total 70% of members reported that sales are either at the same level as last quarter or better, comparing with just 54% six months ago. 

Despite turnover increasing, it is evident that there is still some pressure on sales margins. Members achieving equal or improved margins rose from 53% to 60%, perhaps reflecting extra measures businesses are currently taking to drive sales.

A further positive indicator for Exeter's economy is that the number of members reporting a reduction in employees has halved in the last quarter.  Employers are showing caution though with an extra 5% of respondents implementing a pay freeze on salaries since the last quarter. 50% of the businesses surveyed have either held wages or expect to do so over the Summer.  The percentage of employers who have shortened the working week (or intend to do so) has fallen from 12% in the first quarter of 2009 to 7%.

Derek Phillips, Chairman of Exeter Chamber says, ‘We are delighted to report the good news for business and individuals in Exeter this quarter. The improvement in sales should give Exeter businesses great optimism for the rest of the year - Exeter is bouncing back!  Things are also looking positive for employees with less companies anticipating job losses and a return to full time work for some of those who have been working shorter weeks.'

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