Businesses upbeat on profit growth, finds survey
Businesses in the region remain upbeat about sales and profit growth despite the stuttering economy, according to a survey carried out by North West financial recruitment consultancy Howarth Morris.
The report found that 64 per cent of participants have recorded profit growth in recent months and 71 per cent are confident of further growth over the course of the year.
It also revealed that 68 per cent of the finance and HR personnel surveyed believed there would be an upturn in the region’s economic performance in 2011.
Howarth Morris co-founder Sean Morris said: "While confidence is most certainly returning, there are still challenges ahead.
"The survey revealed that the toughest challenge facing local businesses this year is delivering cost/overhead reduction to improve or maintain profitability. Almost a third (32 per cent) of our surveyed participants highlighted this as their biggest challenge.
"Competitor price pressure came in second with 25 per cent of respondents reporting this as their main challenge."
Howarth Morris has a network of four offices in Liverpool, Manchester, Warrington and Bolton. It was founded in 2007 and works with the likes of AstraZeneca, Fujitsu, Peel and Bibby Group.
Businesses in the region remain upbeat about sales and profit growth despite the stuttering economy, according to a survey carried out by North West financial recruitment consultancy Howarth Morris.
The report found that 64 per cent of participants have recorded profit growth in recent months and 71 per cent are confident of further growth over the course of the year.
It also revealed that 68 per cent of the finance and HR personnel surveyed believed there would be an upturn in the region’s economic performance in 2011.
Howarth Morris co-founder Sean Morris said: "While confidence is most certainly returning, there are still challenges ahead."The survey revealed that the toughest challenge facing local businesses this year is delivering cost/overhead reduction to improve or maintain profitability. Almost a third (32 per cent) of our surveyed participants highlighted this as their biggest challenge.
"Competitor price pressure came in second with 25 per cent of respondents reporting this as their main challenge."Howarth Morris has a network of four offices in Liverpool, Manchester, Warrington and Bolton. It was founded in 2007 and works with the likes of AstraZeneca, Fujitsu, Peel and Bibby Group.
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