GC Situation Report & Business Survey Results - Nov-Dec 2022
13 January 2023
The full GC Situation Report contains detailed data on the economy and results of the GC Survey and Business Confidence Index. It also provides headline data for local authorities in Greater Manchester.
- The latest GC business survey shows results from 255 businesses from 4th November 2022 to 2nd December 2022.
- The latest results show that confidence continues to be strong in the face of difficult economic circumstances.
- 23% (vs 22% previously) or firms reported that they experienced an increase in sales in the last month, and 64% expect profits to increase.
- The three main impacts facing firms are rising costs (34%vs 39% previously), decreased sales (22% vs 22%), and cashflow issues (19% vs 18%). The creative, digital and cultural industry and the hospitality industry were most likely to report decreased sales.
- There have been an increase in the proportion of firms recruiting from last month - typical of the run-up to December (27% vs 23%), and half of these firms have reported workforce skills gaps in sales and marketing and leadership.
- Looking to the year ahead, the main areas identified for business support are workforce development, business planning, sales & marketing, innovation, and financial advice.
The GC Business Growth Hub's #HereForBusiness support package provides practical help and expert advice on a range of topics to help businesses in Greater Manchester manage the increasing cost of doing business.
To find out more and access help and support get in touch now.