The results of the latest Buckinghamshire Business Barometer survey have been published.
The survey, conducted towards the end of 2023, suggests that business confidence has fallen amongst local business leaders, as they continue to battle high costs and face concerns regarding reduced consumer spending.
Whilst businesses reported rising sales and customer, turnover and workforce size in the last three months of the year, they also reported declining orders and rising costs, which is resulting in reduced profits.
Philippa Batting, managing director at Buckinghamshire Business First, said: “Escalating costs, challenges with the logistics of getting goods in and out of the UK because of unrest elsewhere in the world and the raising of the minimum wage are all significantly impacting on the cost of being in business for many. Businesses currently working with the Buckinghamshire Business First team are looking for new ideas to support their growth to ensure they are able to navigate these difficult trading conditions.”
The full results of the survey can be read here: https://www.buckseconomy.co.uk/business-and-innovation/business-innovation-research-reports/