Tees Valley businesses optimistic for the future despite nationwide economic turmoil

Businesses in Tees Valley are feeling optimistic about the future but still view inflation as a significant challenge according to a our recent business survey.

We launched the quarterly Tees Valley Business Index in January, as a representative temperature check for enterprises across the five Teesside boroughs.

The third survey, covering the months from April to September, found that 88 per cent of responders remained positive about the future of their business.

Since the previous Business Index, the survey also showed that 61 per cent of respondents had increased their number of employees.

All but one respondent regarded inflation as the biggest challenge facing businesses with rising prices, impacting energy bills for many firms across the country.

Despite nationwide economic uncertainty, the survey found that 67 per cent of respondents have seen their business’ turnover increase compared to three months ago.

MD Karl Pemberton said: “It’s very encouraging to see so many businesses feeling positive about the future despite high levels of inflation and economic uncertainty many businesses are facing.

“Tees Valley has benefited from a great deal of investment in recent years which is beginning to show for many businesses.

“The recent government announcement on investment zones, will see Tees Valley businesses benefit from tax reductions, helping the region develop its reputation as a centre for excellence.

“We welcome more owner managed businesses to take part in this quarterly survey which takes less than 2 minutes to complete. Please contact Ruth Conner by email rconner@activefp.co.uk if you want to learn more.”


Visit the Active website or follow us on Twitter, FacebookLinkedIn for regular updates

Get in Touch

If you would like to find out more about how we can help you, please give us a call or drop us an email.

Phone Us Email Us
Keep up to date

Sign up to our newsletter to keep up with all things Active.

Active Spirit

“Having been a client of Active for many many years and have always been given great advice and direction. I am now looked after by Andrew. He has given excellent advice and service, continuing on the great work this company has always offered me. Always cheerful and helpful; a great asset to Active. I have no problem recommending him to other people.

Team Active shine a light on mental health

11th June 2024

Friday 5th July brings one of our favourite charity events of the year – the Walk in to the Light. Now in to its 4th year, the event was the…

The importance of protection

23rd May 2024

As a financial adviser, one of my primary goals is to ensure that my clients are well-prepared for whatever life might throw at them. Read on or click here to…

Later Life Planning – why we need it!

21st May 2024

As we go through life, our financial needs evolve. While early adulthood focuses on building wealth and achieving financial stability, later life demands a different approach. Read on, or click…