GC Situation Report & Business Survey Results - Nov-Dec 2022

• 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.

Read the full report. 

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.

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