Increased competition and recruitment dilemmas are among the most pressing issues facing businesses, according to the first Dorset Economic Survey.
Dorset Chamber of Commerce and Industry (DCCI) has launched the quarterly questionnaire with backing from the county’s Local Enterprise Partnership (LEP).
DCCI, the voice of business in Dorset, has fed the results into the British Chambers of Commerce (BCC) quarterly economic survey and will also use them to pinpoint local concerns.
Ian Girling, DCCI chief executive, said: “The first Dorset Economic Survey was a great success and makes very interesting reading.
“The survey enhances the highly regarded and well established BCC Quarterly Economic Survey with some additional questions that give us a valuable insight in to the issues Dorset businesses face.
“For example, it is clear that it is an employee’s market at the moment and businesses are keen to become more competitive.
“This type of information is key to allow DCCI, as the county’s leading business support organisation, provide the high quality services which its members require to grow and drive the local economy.”
Dorset Economic Survey
He added: “Our thanks to all of the DCCI members and those of our affiliated chambers who took part in the survey.”
The questionnaire for the first three months of 2016 showed that 60% of respondents in Dorset were more concerned about competition than three months ago, followed by taxation, business rates and exchange rates.
Some 60% of those answering had attempted to recruit staff in the past three months and 61% of those answering said that they had experienced difficulties finding suitable staff.
Nine per cent of respondents described the general current economic climate as poor, while 45% said that it was okay, 40% said that it was good and five per cent said that it was strong.
Gaining more customers was top of the list of priorities, followed by raising the profile of a business, then growing the business and recruiting good staff.
DCCI is non-partisan and has a firmly neutral stance on the EU referendum but also polled on the issue to gauge the feeling of members.
Of those surveyed, some 57% said that considering the interests of their business they intended to vote to remain in the EU. Some 33% said that would vote to leave while 10% said that they didn’t know.
Some 71% said that they did not need any more information to make their decision and 86% said that they were completely or quite committed to their view.
Ian added: “As a chamber we are a non-partisan organisation and our role is to help our members make an informed decision.
“The poll does not constitute the Chamber’s position but we thought it was important to gain an insight into what our members were feeling.
“It was interesting although only a cross section of their views and does not necessarily represent the views of all businesses in Dorset.
“We will be continuing to poll members in the run up to the referendum and providing information although as a chamber we will not take an official position.”
DCCI is the only chamber in the county accredited to the BCC. It has more than 800 members representing more than 37,000 employees.
Its affiliated chambers include Weymouth and Portland, Broadstone, Dorchester, Poole, Bridport, Ferndown and Shaftesbury with Swanage due to join soon.
The BCC’s national Quarterly Economic Survey – the country’s most authoritative private sector business survey – suggested that growth in the UK economy had continued to soften in the first quarter with a static picture overall.
Read the full results of the Quarterly Economic Survey online at www.dcci.co.uk.
Selection of results:
What is your main business activity?
Professional services: 46%
Retailing/wholesaling: 12%
Marketing/media: 11%
How would you describe the general economic climate?
Okay: 45%
Good: 41%
Strong and positive: 5%
Poor: 9%
How would you describe the current economic climate in relation to your sector?
Okay: 27%
Good: 43%
Strong and positive: 10%
Poor: 20%
Have you attempted to recruit staff over the past three months?
Yes: 60%
No: 40%
Did you experience any difficulties finding suitable staff:
Yes: 61%
No: 39%
Do you employee apprentices?
Yes: 30%
No: 70%
Is the cost or availability of housing locally presenting barriers to growth in your business (for example, affordability of housing for your staff)?
Yes: 25%
No: 75%
Over the next 12 months, do you believe turnover will:
Improve: 54%
Remain the same: 29%
Worsen: 17%
Over the next 12 months, do you believe profitability will:
Improve: 47%
Remain the same: 37%
Worsen: 16%
Are you currently at:
Full capacity: 43%
Below capacity: 57%
What are your top five priorities for your business at the moment (top five):
Gaining more customers
Raising my profile
Growing my business
Recruiting good staff
Developing skills in my business
Would you welcome help on any of the following (top five):
Gaining new customers
Meeting like-minded businesses
Understanding the LEP and local authorities
Training on specific issues
Better communication with local authorities
Do any of the following concern you in business (top five):
The threat from competitors
Recruitment
Leaving the EU
Legislation and regulation
Cash flow
Please indicate which of the following factors are more of a concern to your business than three months ago (top five):
Competition
Taxation
Business rates
Exchange rates
Interest rates
Inflation
EU:
How will the package of reforms set out by the Prime Minister materially impact your business?
Positive impact: 19%
No impact: 63%
Negative impact: 5%
Very negative impact: 2%
Will the reforms package change your voting intentions:
Yes: 8%
No: 87%
Don’t know: 5%
What impact do you feel the UK’s membership of the EU currently has on your business?
Positive impact: 33%
No impact: 29%
Very positive: 19%
Negative impact: 11%
Very negative impact: 5%
Don’t know: 3%
Considering the interests of your business, how do you intend to vote in the referendum on June 23:
Remain in: 57%
Leave: 33%
Don’t know: 10%
Based on your response to question above, how committed are you in this view:
Completely committed: 59%
Quite committed: 27%
Slightly committed: 8%
Uncommitted:6%
Do you feel you need more information to make your decision?
Yes: 29%
No: 71%
