Greater Manchester Chamber of Commerce Releases Q3 Survey Results

Duff & Phelps are sponsors of the Greater Manchester Chamber of Commerce’s Quarterly Economic Survey (QES), and today the results for Q3 were released at a breakfast briefing held in Manchester. The survey results provide a quantitative insight into the after-effects of the EU Referendum vote held earlier this year.

Quarter three’s survey was completed by almost 350 businesses, across a range of sectors, who were asked about their order books, investment and recruitment intentions and their confidence in the business climate going forward.

Paul Smith, a managing director at Duff & Phelps in Manchester, commented on the results of the survey: “As SMEs in the Greater Manchester region work out what impact the result of the EU referendum will have on their businesses, it is encouraging to see that over the past three months the percentage of companies saying that they found it very hard or quite hard to access funding has fallen to 24% from 33%. A contributing factor for the rise in cash and funding options is the emergence of challenger banks, or alternative lenders such as peer-to-peer lenders, which have become more established as a source for funding among the business community. While this new and different range of funding options provides a welcome boost in liquidity, it is important that SMEs receive support and guidance to find the most appropriate funding structure for their businesses.

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