A survey of businesses in South Lakeland said confidence levels remained strong – despite massive challenges.
A total of 1,243 firms responded to South Lakeland District Council’s annual survey – and 63 per cent said they felt confident about the next 12 months, while just under 25 per cent are expecting their staffing levels to stay the same.
But, the council said, compared to the results from the 2021 survey, there has been a 15 per cent decrease in confidence rates.
The survey was carried out between October and last month. Business owners were invited to give their views to help shape economic support strategies and inform plans and policies.
Since 2014, the surveys have provided an up-to-date assessment of the supply and demand of business premises in South Lakeland, helping inform the authority’s evidence base about employment needs and the opportunities and challenges faced by businesses operating in South Lakeland.
The intelligence and insight gathered in this latest survey will be carried forward and be available to the new Westmorland and Furness Council, which will replace Cumbria County Council, Eden District Council, South Lakeland District Council and Barrow Borough Council on April 1.
Over half of all responding businesses feel fairly confident about the next 12 months, while one in 10 are very confident. On the other hand, more than one in four (27 per cent) are not feeling confident going forward. Twenty per cent of respondents were not very confident and 7.5 per cent not at all confident.
The rate of confidence has decreased by 15 per cent, while the rate of no confidence has increased by 12 per cent.
The majority of responding businesses were from the tourism and retail sectors. Those in light industrial and food/drink premises also contributed a significant response rate.
Councillor Robin Ashcroft, portfolio holder for economy, culture and leisure, said: “The economic landscape has certainly become more challenging in recent times, which is reflected in these most recent findings from our business premises survey.
“But I am, as always, struck by the level of resilience and innovation shown by businesses in South Lakeland to continue to thrive in the face of such challenges.
“These strengths underline the massive contribution businesses here make towards making our area a great place to live, work and explore.”
Other findings in the survey include:
- Of the 1,243 responding businesses, 15 per cent (183 businesses) indicated that they would expect their premises needs to change in the next three years. The majority expect to increase in size by means of expanding their existing premises or moving to a larger site. This year’s survey showed a slight shift towards more businesses wanting to downsize, compared to last year’s results which showing a shift towards a need for larger premises.
- A third of businesses identify energy/fuel costs and staff retention/recruitment as obstacles that prevent their business growing.
- Around half of the responding businesses are seeking to address rising energy and fuel prices by implementing energy efficiency measures and/or reducing business costs.
- Overall, two thirds of responding businesses indicated that addressing climate change is important to them.
