Businesses enter 2018 with new confidence

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Strong performance for UK sales and orders and stable investment plans for Lincolnshire businesses were just some of the responses given in a 2017 survey.

Results from the Quarterly Economic Survey for quarter four 2017 also demonstrated a jump in recruitment activity for both services and manufacturing, and strong intentions to recruit up from the previous quarter.

However, Lincolnshire Commerce says that while there are positive factors to take through 2018, it does not come without its hindrances.

A spokesman said overseas sales are ‘stagnant’ with orders contracting, with cash flow optimism ‘somewhat deteriorating’ for local businesses. They added: “UK sales and orders remain positive albeit with a dip in both activities, and 46 per cent of businesses who participated in the survey cited ‘competition’ as a main concern with ‘inflation’ following shortly behind.”

Coun Colin Davie, executive member for economy and place at Lincolnshire County Council, said: “Although businesses are still having to navigate what remains an uncertain economic climate, there are rays of hope. Domestic sales are holding up and local businesses remain confident about the future. I firmly believe 2018 can be Lincolnshire’s year. The world is changing and, if we rise to the challenges ahead, we can be at the forefront of the next Industrial Revolution, which will be based around digital skills and technology.”