Nearly two-thirds of Greater Lincolnshire businesses reported improved performance over the past year, and almost three-quarters expect their business to grow in the next 12 months.

Those signs of optimism are the highlights of a major survey of employers in the area conducted on behalf of the Greater Lincolnshire Local Enterprise Partnership.

The results back up findings from the Quarterly Economic Survey of businesses in Lincolnshire which has been reporting improving business conditions and growing optimism since the beginning of 2013.

65% of employers surveyed reported an increase in profitability, turnover, sales and market share in the last year, and 72% of businesses expect performance to improve over the next 12 months.

70% of employers in the LEP’s priority sectors* gave Greater Lincolnshire a positive or very positive rating as a place where their business can grow.

However the survey did highlight some of the challenges Greater Lincolnshire faces in terms of infrastructure: when asked to rate the area’s positive aspects only 21% of respondents rated the transport infrastructure as good. Poor transport infrastructure was cited by 30% of private sector employers as an obstacle to business growth.

Ursula Lidbetter MBE, Chair of the Greater Lincolnshire LEP, said: “This survey is a very important piece of work for us and it’s encouraging to see that the results show increased optimism and business growth across Greater Lincolnshire.

“This is the first major study of the Greater Lincolnshire economy we have carried out, and we have done so because we can’t get this information in any other way.

“The data will be extremely useful in allowing us to understand both current business conditions in our area and the barriers to growth.

“Poor transport infrastructure is an area that employers have highlighted as a negative factor and we will continue to prioritise transport – particularly rail and road infrastructure – in our plans for Greater Lincolnshire.”

“The survey shows that employers in North East Lincolnshire have great access both to suppliers and customers, with good transport links to support this,” said Councillor Ray Oxby,  Portfolio Holder for Regeneration and Skills at North East Lincolnshire Council.

“With the busiest traditional port complex in the UK and a fast-growing renewables support sector in Grimsby bringing jobs and investment into North East Lincolnshire, this is good to know.

“The survey also rates the area highly in terms of support available to help grow businesses – something we’re passionate about. Business growth leads to a stronger economy for the area, benefiting those who live and work, as well as those who invest, here.”

Councillor Liz Redfern, Leader of North Lincolnshire Council, said: “We are doing all we can to help local businesses through the Regional Growth Fund. We have already committed over £10m to support 50 North Lincolnshire businesses to help get them started and enable them to grow. Through RGF money these businesses have been able to create over 700 jobs.

“We have also been successful in attracting other Government grants to assist businesses. There are some great business opportunities with work already started on the £9.5m Humber University Technical College in Scunthorpe and plans for the £450m Able Marine Energy Park, set to create thousands of jobs.

“These are all signs of great confidence in this area. We will continue to work for the good of the area alongside our partners who are instrumental in helping to ensure we have a thriving business economy.”

The full report and a two-page summary can be downloaded here.

For more information about the Greater Lincolnshire LEP visit www.greaterlincolnshirelep.co.uk or follow @GreaterLincsLEP on Twitter.

For more information about the Employment Survey go to research-lincs.org.uk

* The Greater Lincolnshire LEP’s priority sectors are: agri-food, visitor economy, manufacturing, ports and logistics, renewables and care services.

Notes to Editors

Greater Lincolnshire LEP

• The Greater Lincolnshire Local Enterprise Partnership is a private and public sector partnership led by the private sector which aims to improve conditions for infrastructure and doing business in the Greater Lincolnshire area.
• One of the first LEPs to be established in the UK, the Greater Lincolnshire LEP covers a large geographical area with a population of over one million and a diverse range of industries, from ports and logistics to farming, tourism and engineering.
• It includes North and North-East Lincolnshire and the administrative county of Lincolnshire and is controlled by a LEP board made up of leading figures in the public and private sector.
• Visit www.greaterlincolnshirelep.co.uk for more information.

Employer Survey

• The Greater Lincolnshire Employer Survey aims provide statistically robust information on business performance, growth factors and skills, as well as the business community’s perception of Greater Lincolnshire as a place to do business. The findings will support future economic planning and decision making.
• BMG Research surveyed 1,515 employers by telephone in April and May 2014. The geographical breakdown of businesses surveyed was as follows:

North East Lincolnshire 177
North Lincolnshire 197
Boston 130
East Lindsey 192
Lincoln 161
North Kesteven 158
South Holland 154
South Kesteven 199
West Lindsey 147
TOTAL 1515

• BMG Research based in Birmingham is one of the UK’s largest independent research agencies.

For media information please contact:
Jez Ashberry
Shooting Star PR
01522 528540
07780 735071
jez@weareshootingstar.co.uk
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