Norman Tenray

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Quarterly Economic Survey (QES) results paint a positive picture for Lancashire businesses

The latest Quarterly Economic Survey (QES) results paint a positive picture for Lancashire businesses.

The results from the survey were announced at an event hosted at Preston’s College where I represented the North & Western Lancashire Chamber of Commerce in my capacity as President. At the event, Moore and Smalley’s Corporate Finance Director Stephen Gregson gave us an incredibly detailed insight into the state of Lancashire’s business community, following analysis of the responses from companies throughout the county.

The QES is compiled nationally by the British Chambers of Commerce and in Lancashire by the three Chambers, North and Western Lancashire, East Lancashire and Lancaster.

The data suggests there has been a significant increase in the amount of full time manufacturing jobs being created in the area, which is a fantastic example of how the local economy is developing, suggesting people are starting to feel more confidence in the future.

Stephen commented: “This is one example of the ups and downs of the economy. We do not have to get too panicked about it.

“What comes with this is that we are getting a greater sense of predictability. We have a sense of what the risks are and we can do more planning for that.”

Stephen’s talk was followed by a Q&A session with Andrew Howarth, managing director of Promenade Hotels.

While the figures are in a slight decline, I am actually really reassured because we can see a bit of continuity and a little bit of sustainability coming through. The results over the past four years have shown that there is that consistency.

Originally, for the first couple of years it was quite flat when we were really in deep recession but now we are coming out of recession we are starting to get some nice peaks and troughs, which is good because obviously if you go through a bit of growth you have got to consolidate and you have got to see those results come in and then you are going to invest.

What I would urge any business out there to do is follow the QES, contribute to the QES and actually get along here and discuss the results with other businesses at this event because it is incredibly powerful.

I use these results as one of the key indicators to help me make decisions within my business and I have found it incredibly accurate.

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