Reporting a positive start to the year: Management School contributes to Sheffield City Region economic survey
Analysis on survey data performed by experts at SUMS suggests that Sheffield City Region firms continued to show growth in both domestic and export markets since the New Year, and also demonstrates increased investment in plant, people and training.
Over 300 business leaders in the service and manufacturing sectors completed the Sheffield City Region Quarterly Economic Survey for Q1 2017 to report a mainly positive start to the year. They forecast a strong outlook for sales in the next quarter with manufacturing firms foreseeing a substantial increase in both domestic and export markets – particularly across Europe, Asia and the Middle East. Possibly in response to this, both sectors have increased their investment in their plant, staff force and training.
Businesses identified the most important elements of the Government’s Industrial Strategy as encouraging growth across the whole country, encouraging trade and inward investment, and supporting businesses to start and grow. However nearly half of the businesses polled felt they didn’t know enough about strategy and how it would impact their business.
Dr David Littlewood, lecturer in strategic management and a Divisional Director for External Business Advancement at the Management School, presented the Quarterly Economic Survey first-quarter results at a breakfast event in Doncaster on 5 May.
Sir Nigel Knowles, chair of the Sheffield City Region Local Enterprise Partnership, said: “The results of the Quarterly Economic Survey give an important insight into the current experience of businesses around the region. Looking at the results, we know that businesses want more support for starting and growing business and to see the right local institutions to support people, industries and places. That’s why our Growth Hub is now the gateway for specialist business support including innovation, exporting, accessing finance and training and why we are telling Government that we want to see greater local decision-making as an important part of the Industrial Strategy.”