Survey Results 2018
Thank you to those organisations who responded to our survey looking at business confidence and performance across our business community.
Almost 1800 new businesses started up in Peterborough during 2017 – up over 11 per cent over the last three years. That figure simply emphasises the belief in the local business economy which is mirrored by the findings of the survey, produced by Rawlinsons in association with Opportunity Peterborough.
Over half of the businesses responding to the annual survey reported increased performance over the last 12 months with 64% confident that the next 12 months will see further improvements – that is up 10 per cent on the previous year.
Other business survey outcomes included:
- 40 per cent of businesses expect to invest in more staff
- 33 per cent said Brexit had a negative impact on expectations
- 50 per cent of businesses find it difficult to recruit the right staff
- 78 per cent expect operating costs to increase
The main obstacles to growth remain the availability of skilled workers; price pressure from customers and competitors and rising overheads and increasing utility costs.
This year’s survey represents over 7,000 employees and over 1,600 years of business experience.. The wide variety of respondents provided a cross section of the city’s business community – from small start-ups to major corporates.
This year’s survey report also incorporates the thoughts of experts in their fields across retail, start-ups, mergers and acquisitions, skills, banking and finance, the circular economy, recruitment and commercial property – offering as broad a spectrum of views as possible to help determine the real temperature of the economic water in Peterborough.