Lincolnshire business confidence increasing, new survey finds

More than half of Lincolnshire businesses expect their turnover to increase during 2013, despite the longest recession in the UK for 50 years, according to a survey by county accountants.

Nearly two-thirds of firms questioned in the Lincolnshire Economic Survey carried out by Duncan & Toplis feel more optimistic about the business outlook than they did this time last year.

The chartered accountants conducted one-to-one telephone interviews throughout January and February with around 150 Lincolnshire business leaders on a range of issues, including business confidence, finance, interest rates, government economic policy and the export market.

Headlines from the survey include:

  • 65% of businesses feel more optimistic about the business outlook than last year – an increase of 14% on the previous survey in 2012
  • 61% of businesses expect turnover to increase in 2013
  • Only 6% expect their turnover to fall this year
  • Only 7% think they will cut the number of people they employ this year
  • 46% of firms think their business would be unaffected if the UK left the EU
  • 63% say Lincolnshire is a good place to start or run a business

Encouraging results

Survey chart

“These results are encouraging and show that business confidence in Lincolnshire remains strong,” said Adrian Reynolds, Managing Partner at Duncan & Toplis.

“Sometimes it can seem that the headlines about the economy are all negative, but our survey has highlighted an optimistic mood among Lincolnshire businesses which we hope will support an economic recovery.”

The results of the annual survey will be revealed in full at a breakfast event on Friday, March 15, at Bishop Grosseteste University in Lincoln, organised by the Lincolnshire Chamber of Commerce.

The full survey report will also by available on the Duncan & Toplis website from Friday.