FINANCE
Optimistic – Karl Pemberton , MD at Active Chartered Financial Planners .
Positive picture
Upbeat results from Active ’ s first business survey
At Active Chartered Financial Planners , the local business community is our lifeblood and passion – and that ’ s why we recently launched a new quarterly survey , to keep a finger on the pulse of what ’ s happening locally .
The Tees Valley Business Index is a representative temperature check for firms across the five Teesside boroughs .
The results of the first Business Index were reassuringly positive , revealing that 100 per cent of respondents reported being optimistic or very optimistic about the future of both their organisation and of Tees Valley as a business hub in the UK .
The survey also showed that within the last three months , all participating businesses ’ turnovers had either increased or stayed the same and that they employed the same number or more staff .
However , recruitment and staff retention were raised as an issue for many employers , with 63 per cent citing “ finding people ” as the most significant challenge to their business coming into 2022 .
Although this is unsurprising , given that staffing has been a national sticking point for many businesses post-pandemic , it is , nonetheless , a very real concern .
A recent study by the Centre for Economic Performance found that one in five employers had problems of retaining staff and Office for National Statistics figures from late 2021 showed that 41 per cent of companies with 10 or more staff reported greater than usual recruitment challenges .
Organisations invited to take part in Active ’ s short survey were ownermanaged businesses , based in Tees Valley and from a range of sectors , including professional services , engineering , software , logistics and retail .
“ Tees Valley is demonstrably becoming an investment hotspot in the UK .”
Karl Pemberton , managing director at Active Chartered Financial Planners , said : “ Tees Valley is receiving significant investment and government support , so it ’ s no surprise that businesses are being buoyed by this and feeling optimistic .
“ With the treasury jobs in Darlington , the Teesside Freeport and the recent announcement of SeAH Wind coming to Teesworks from spring next year , Tees Valley is demonstrably becoming an investment hotspot in the UK .
“ We must , of course , acknowledge that it ’ s been a difficult couple of years for everyone , but in spite of this , it ’ s great to see companies thriving , and even having opportunity to grow , rather than falling victim to Covid restrictions .
“ More than half the firms in the survey had vacancies available for the right people , and I hope this will attract more talent to the region and cement the Tees Valley ’ s reputation across the country as a hub for industry .
“ This year promises to bring more developments and opportunities to the region . Restrictions are easing further and I hope this will give employers and employees more scope to do what they do best – their jobs !
“ It ’ s a fantastic time to be in business in Tees Valley and I ’ m confident this will continue as the year goes on .”
Due to the success of the first survey , we are planning a Business Index every quarter and welcome more ownermanaged businesses from the area to take part . The short survey comprises five questions and is completely anonymous . If your organisation is eligible and you would like to participate , please contact Ruth Conner at rconner @ activefp . co . uk
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54 | Tees Business