Firms across Greater Birmingham are feeling increasingly positive and are on an upward trajectory as a result of lockdown restrictions continuing to ease, a new survey has revealed.
The Greater Birmingham Chambers of Commerce second quarterly business report of 2021 has shown that companies across the region are now on the road to recovery after struggling to stay afloat amid the uncertainty of the pandemic.
In terms of domestic demand, the balance score increased by 21 points this quarter to a figure of 68 - the highest score on record since quarter four 2018.
Hoping to maintain this upward trajectory, 49 per cent of businesses said they were confident that this increase would continue.
Scores for export demand emerged from negative territory for the first time since the beginning of 2020, with 32 per cent of firms across manufacturing and service sectors noting an increase in non-UK sales.
Recruitment figures showed there was a 22 per cent increase in businesses reducing the size of their workforce.
However, this was counterbalanced by the rise in businesses scaling up their headcount and levelled the score to a figure of 55.
Cash flow has emerged from a negative territory and 31 per cent of firms have noted an improvement in cash flow compared to their position three months ago.
Chamber chief executive Henrietta Brealey attributed the report's upward trends to the influence of the Government's vaccine rollout as well as the gradual easing of restrictions which have allowed businesses to resume trade.
She said: "Positive sentiment is coursing through the veins of many businesses in Greater Birmingham.
"The optimism is reflected in the results of our latest survey with domestic demand soaring to a level not seen since the onset of the pandemic, a steady climb in international sales and an upturn in recruitment levels.
"It was also pleasing to see that both turnover and profitability projections continued to rise this quarter.
"Business investment in training and capital investment also continued to tick upwards, with both returning to positive territory for the first time in over a year."
