Search

Levels of business growth remain at record high in the East of England

PUBLISHED: 19:17 15 July 2014 | UPDATED: 19:17 15 July 2014

R3’s Eastern region Chairman Frank Brumby, a director at Isadore Goldman in Norwich

R3’s Eastern region Chairman Frank Brumby, a director at Isadore Goldman in Norwich

Archant

Levels of business growth in the East of England remain at record highs and business distress near record lows, according to the latest Business Distress Index from insolvency trade body R3.

R3’s Business Distress Index tracks the number of local businesses that are experiencing decreased profits, sales volumes, or market share, regularly using their maximum overdraft or making redundancies. It also surveys whether businesses are investing in new equipment or experiencing increased profits, sales volumes, market share and business growth.

The Index shows that over two-thirds (68%) of businesses in the East of England are now showing none of the key signs of business distress, which is 17 points higher than the same period two years ago. Similarly, almost three-quarters of respondents (71%) are currently reporting at least one key sign of business growth, a 14 point rise from June 2012.

However, the latest statistics also show that signs of growth and distress are still uneven around the country. While 30% of businesses in the Midlands say they are experiencing at least one sign of distress, this figure rises to 34% in the South and 43% in the North.

R3’s Eastern region Chairman Frank Brumby, a director at Isadore Goldman in Norwich, said: “While Westminster needs to be aware of the growing disparity between the North and the South, the R3 Business Distress Index continues to highlight some very positive results for our corner of the country.

“It’s encouraging that business growth isn’t yet showing signs of decelerating and the pace of the recovery is being kept up.

“A word of warning, though. Businesses need to be on the lookout for any signs that they’re over-stretching themselves. Sales, profits and business expansion may be rising, but if a business runs before it can walk then problems can emerge.”

Search hundreds of local jobs at Jobs24

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Insight

2018 is set to be another strong year for the commercial property market providing confidence is not undermined by the Brexit negotiations, according to a Norfolk property expert.

Major retailer B&M is set to move into a proposed new retail park - despite fears it would lead to a major loss of land for high-skilled employment.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100