The view from the Midlands’ respondents is slightly more optimistic than the national picture, with nearly 79% forecasting growth, an increase of 6% on the previous year.
This expected growth is forecast to be below 10% and driven by increased demand. During the last 12 months, 69% of businesses reported growth, which compares well to the 73% who forecast growth in last year’s survey.
Businesses completing the survey ranged in terms of turnover, from £1 million to over £101 million, although the majority were below £20 million and represented many industrial sectors. The most common businesses operated in were: automotive, construction, aerospace, precision engineering and tooling or within the field of electrical and electronics. In terms of employee numbers, 63% of businesses had up to 50 employees and of the remainder, 33% fell in the category of between 51 and 250.