Q4 Full Report - Derbyshire and Nottinghamshire Chamber of ...

More documents

Recommendations

Info

Business Conditions2. Summary of Results• The improvements in the Derbyshire and Nottinghamshire economyflattened out in the fourth quarter of 2009. The outlook for the first quarterof 2010 is slightly better, however, there is little sign that employmentlevels are going to improve significantly and businesses are slightly lessconfident about future profitability.• Net cash flow balances are improving across both counties but there arestill more businesses reporting worsening rather than improving cash flow.• Overall net balances for both domestic and export orders are higher thanthe previous quarter.• Investment in both machinery and training are increasing but remain lowerthan both regional and national levels.• The confidence levels of Derbyshire and Nottinghamshire businesses forfuture turnover and profitability are higher than the East Midlands levels.• Net job losses are expected in the construction and engineering sectors andnet job growth in financial and business services. North Derbyshire looksset for net job losses whilst job growth is expected in Amber Valley,Erewash and Nottingham City in the next three months.Skills• If funding is limited, businesses believe that supporting training in theexisting workforce and higher education are the top priorities forexpenditure on skills.• The top priorities for skills that need improving in Derbyshire andNottinghamshire businesses are customer care and managerial andsupervisory skills.• Of the changes in education, businesses know most about nationalapprenticeships (62%) and least about the 14-19 Diploma (29%).Business Rate Supplements• Overall only 14% of businesses believe that business rate supplementsshould be used to fund major sporting venues locally with 62% opposing.Postal Strike• Only 24% of businesses changed their operations as a result of the postalstrikes.• Overall 13% of all Derbyshire and Nottinghamshire businesses are usingalternative deliverers following the postal dispute whilst 23% are nowmaking or receiving payments electronically, using electronic exportdocumentation or trading more online.4
3. Performance in the last three monthsThe table below shows the changes in the net variances* on a number ofindicators of performance in the last quarter and expectations for the next quarter.Quarterly Economic SurveyDecember 2009DNCCNottinghamshireDerbyshireManufacturersServicesPerformances in the last quarterUK sales 0 5 -4 -2 4Export sales -6 -11 -3 -2 -9Workforce changes -1 -7 1 -1 -1Businesses recruiting 0 -5 1 5 -4Recruitment difficulties3 -6 10 12 1Cash flow 11 16 6 11 11Full capacity 0 2 -2 -2 1Expectations for the next quarterUK orders 7 12 2 0 10Export orders 2 6 -5 5 -4Future workforce -4 3 -7 1 -6Investment in machinery 8 5 10 5 7Investment in training 5 2 5 4 2Confidence in turnover 2 13 -6 5 1Confidence in profitability -3 13 -15 -3 -2Expectations for prices 0 4 -4 1 1• Net variance is the difference between the percentages of businesses reportingimproving or increasing positions and those reporting worsening or decreasing positions.5
Page 1 and 2: QuarterlyEconomic SurveyDECEMBER 20
Page 3: 1. IntroductionDerbyshire and Notti
Page 7 and 8: Fewer service sector businesses att
Page 9 and 10: 4. Trends AnalysisUK SalesSales in
Page 11 and 12: Employment LevelsOverall, employmen
Page 13 and 14: 80RecruitmentAll Nottinghamshire Bu
Page 15 and 16: 5. Expectations for the next quarte
Page 17 and 18: UK OrdersThere is further improveme
Page 19 and 20: Labour ForceNet balances for employ
Page 21 and 22: Investment IntentionsIn both sector
Page 23 and 24: ConfidenceConfidence levels for tur
Page 25 and 26: 6 Skills, Education and Business En
Page 27 and 28: 7 Proposed use of business rate sup

Q4 Full Report - Derbyshire and Nottinghamshire Chamber of ...

Create successful ePaper yourself

Delete template?

Save as template?