Latest news with #QuarterlyBusinessReport
Rhyl Journal
11-07-2025
- Business
- Rhyl Journal
Impact of NI contributions on business in North Wales
The latest results of its Quarterly Business Report, a leading survey of business sentiment in the region, highlights only one in five businesses (21%) reported an increase in employment over the last three months, a record low outside of the Covid-19 pandemic. The report, based on responses from 90 firms between May 12 and June 9, also reveals that of those employers that attempted to recruit, 75% encountered difficulties, further highlighting the challenges that businesses are encountering in the labour market. Read more: Businesses throw support behind Wrexham's City of Culture bid Skills & Policy Director at the West Cheshire & North Wales Chamber of Commerce, Maria Davison, said: "In our Quarterly Business Report after the Autumn Statement, business confidence and investment plans fell substantially whilst concerns around corporation tax (which includes NI) rose to its highest level on record. This pointed to a challenging time ahead for business and our report for Q2 of 2025 is now showing the real impact of the announcements that were made. "Members surveyed directly cite that changes to NI contributions and National Living Wage increases have impacted their recruitment and investment plans. With further changes coming in the form of the Employment Rights Bill, businesses are entering a new employment landscape marked by structurally higher labour costs and administrative requirements. Read more: Butchers celebrates first-year in business in bustling North Wales town "We are keen to speak to businesses that are experiencing challenges in the labour market so please do reach out via 01244 669988 or info@ Elsewhere in the Quarterly Business Report for Quarter 2 of 2025: • Business confidence has been trending downwards since record highs in Q3 2023 with turnover and profitability both dipping this quarter. • Cashflow remains tight with only 20% of firms reporting an increase in the last quarter. • Sales and Orders, both domestic and overseas, showed signs of recovery after a dip last quarter. • Investment plans, for both plant & machinery and training, have continued the same downward trend that we have seen for the last two years. Maria added: "There have been many challenges for businesses in the first six months of 2025, both at home and abroad, and business sentiment in Q2 remains subdued, following last Autumn's tax increase announcements and the more recent introduction of global tariffs. Read more: Owner of bar teases duplicate venue due to overwhelming success in Mold "The series of long-term strategies from Government in recent weeks have been welcomed, but businesses are clear - they want their costs reduced, regulation reformed, and skills barriers removed. Action by policymakers now, will improve confidence and give firms the tools to boost growth." Members of the Chamber of Commerce have given their feedback on the current economic climate. Carlton Relf, managing director of Wrexham-based commercial cleaning contractor Maidscando, said: "Our business has seen rising operating costs, particularly the NI and National Living Wage increases - alongside rising inflation - which have undermined our financial performance. Like other market sectors particularly reliant on part-time and entry level job roles, our employment costs have risen by up to 13%. "We're a growing business but we are having to look at making further operating efficiencies or re-evaluate our pricing strategies. The lasting nature of these challenging trading conditions underscores the need for practical business support measures to ease the pressure on our region's companies." • To read the full Quarterly Business Report, visit the West Cheshire & North Wales Chamber of Commerce website:
North Wales Chronicle
11-07-2025
- Business
- North Wales Chronicle
Impact of NI contributions on business in North Wales
The latest results of its Quarterly Business Report, a leading survey of business sentiment in the region, highlights only one in five businesses (21%) reported an increase in employment over the last three months, a record low outside of the Covid-19 pandemic. The report, based on responses from 90 firms between May 12 and June 9, also reveals that of those employers that attempted to recruit, 75% encountered difficulties, further highlighting the challenges that businesses are encountering in the labour market. Read more: Businesses throw support behind Wrexham's City of Culture bid Skills & Policy Director at the West Cheshire & North Wales Chamber of Commerce, Maria Davison, said: "In our Quarterly Business Report after the Autumn Statement, business confidence and investment plans fell substantially whilst concerns around corporation tax (which includes NI) rose to its highest level on record. This pointed to a challenging time ahead for business and our report for Q2 of 2025 is now showing the real impact of the announcements that were made. "Members surveyed directly cite that changes to NI contributions and National Living Wage increases have impacted their recruitment and investment plans. With further changes coming in the form of the Employment Rights Bill, businesses are entering a new employment landscape marked by structurally higher labour costs and administrative requirements. Read more: Butchers celebrates first-year in business in bustling North Wales town "We are keen to speak to businesses that are experiencing challenges in the labour market so please do reach out via 01244 669988 or info@ Elsewhere in the Quarterly Business Report for Quarter 2 of 2025: • Business confidence has been trending downwards since record highs in Q3 2023 with turnover and profitability both dipping this quarter. • Cashflow remains tight with only 20% of firms reporting an increase in the last quarter. • Sales and Orders, both domestic and overseas, showed signs of recovery after a dip last quarter. • Investment plans, for both plant & machinery and training, have continued the same downward trend that we have seen for the last two years. Maria added: "There have been many challenges for businesses in the first six months of 2025, both at home and abroad, and business sentiment in Q2 remains subdued, following last Autumn's tax increase announcements and the more recent introduction of global tariffs. Read more: Owner of bar teases duplicate venue due to overwhelming success in Mold "The series of long-term strategies from Government in recent weeks have been welcomed, but businesses are clear - they want their costs reduced, regulation reformed, and skills barriers removed. Action by policymakers now, will improve confidence and give firms the tools to boost growth." Members of the Chamber of Commerce have given their feedback on the current economic climate. Carlton Relf, managing director of Wrexham-based commercial cleaning contractor Maidscando, said: "Our business has seen rising operating costs, particularly the NI and National Living Wage increases - alongside rising inflation - which have undermined our financial performance. Like other market sectors particularly reliant on part-time and entry level job roles, our employment costs have risen by up to 13%. "We're a growing business but we are having to look at making further operating efficiencies or re-evaluate our pricing strategies. The lasting nature of these challenging trading conditions underscores the need for practical business support measures to ease the pressure on our region's companies." • To read the full Quarterly Business Report, visit the West Cheshire & North Wales Chamber of Commerce website:
Leader Live
10-07-2025
- Business
- Leader Live
Impact of NI contributions on business in North Wales
The latest results of its Quarterly Business Report, a leading survey of business sentiment in the region, highlights only one in five businesses (21%) reported an increase in employment over the last three months, a record low outside of the Covid-19 pandemic. The report, based on responses from 90 firms between May 12 and June 9, also reveals that of those employers that attempted to recruit, 75% encountered difficulties, further highlighting the challenges that businesses are encountering in the labour market. Read more: Businesses throw support behind Wrexham's City of Culture bid Skills & Policy Director at the West Cheshire & North Wales Chamber of Commerce, Maria Davison, said: "In our Quarterly Business Report after the Autumn Statement, business confidence and investment plans fell substantially whilst concerns around corporation tax (which includes NI) rose to its highest level on record. This pointed to a challenging time ahead for business and our report for Q2 of 2025 is now showing the real impact of the announcements that were made. "Members surveyed directly cite that changes to NI contributions and National Living Wage increases have impacted their recruitment and investment plans. With further changes coming in the form of the Employment Rights Bill, businesses are entering a new employment landscape marked by structurally higher labour costs and administrative requirements. Read more: Butchers celebrates first-year in business in bustling North Wales town "We are keen to speak to businesses that are experiencing challenges in the labour market so please do reach out via 01244 669988 or info@ Elsewhere in the Quarterly Business Report for Quarter 2 of 2025: • Business confidence has been trending downwards since record highs in Q3 2023 with turnover and profitability both dipping this quarter. • Cashflow remains tight with only 20% of firms reporting an increase in the last quarter. • Sales and Orders, both domestic and overseas, showed signs of recovery after a dip last quarter. • Investment plans, for both plant & machinery and training, have continued the same downward trend that we have seen for the last two years. Maria added: "There have been many challenges for businesses in the first six months of 2025, both at home and abroad, and business sentiment in Q2 remains subdued, following last Autumn's tax increase announcements and the more recent introduction of global tariffs. Read more: Owner of bar teases duplicate venue due to overwhelming success in Mold "The series of long-term strategies from Government in recent weeks have been welcomed, but businesses are clear - they want their costs reduced, regulation reformed, and skills barriers removed. Action by policymakers now, will improve confidence and give firms the tools to boost growth." Members of the Chamber of Commerce have given their feedback on the current economic climate. Carlton Relf, managing director of Wrexham-based commercial cleaning contractor Maidscando, said: "Our business has seen rising operating costs, particularly the NI and National Living Wage increases - alongside rising inflation - which have undermined our financial performance. Like other market sectors particularly reliant on part-time and entry level job roles, our employment costs have risen by up to 13%. "We're a growing business but we are having to look at making further operating efficiencies or re-evaluate our pricing strategies. The lasting nature of these challenging trading conditions underscores the need for practical business support measures to ease the pressure on our region's companies." • To read the full Quarterly Business Report, visit the West Cheshire & North Wales Chamber of Commerce website:
USA Today
07-07-2025
- Business
- USA Today
St. Cloud Quarterly Business Report finds local growth despite tariff worries
ST. CLOUD, Minn. — area business owners are seeing success despite concerns surrounding economic conditions like tariffs, a new St. Cloud-area business report found. The newest edition of the St. Cloud Area Quarterly Business Report, released June 26, found signs of healthy business activity for local companies, though business owners are still worried about impacts of national economic conditions at home. Employment, wages and prices received for products all picked up this past quarter, the report found, which suggest some slight economic growth in the area. However, business owners' concerns about national economic conditions, namely tariffs, cast a shadow over the majority of survey responses. King Banaian, a St. Cloud State University economics professor and director of the university's Center for Policy Research and Community Engagement, discussed the report's findings at Granite Innovations. His presentation was titled "Negotiating the Wall of Worry." It addressed the theme of worry across much of the report. "In terms of future conditions, I would say people are feeling good, but they're not super optimistic, but they feel like they're managing through whatever issues they see in the national environment," Banaian said. Many business owners who participated in the survey used in the report were especially nervous about the impacts of tariffs, with 32% saying they did not know how tariffs would impact their business. "Most of what we sell is imported directly or indirectly, and the constantly changing policies are making it very difficult for us and our clients to plan and navigate," a respondent cited in the report's review said. New medical school: Construction almost complete at St. Cloud's new medical school The Trump administration's new tariff rates are scheduled to restart July 8 after a 90-day pause, though there is a chance that the trade deal deadline could be extended, according to USA Today. The majority of local business owners also plan to pass the costs of increased tariffs onto consumers, the report found, with 56% of respondents planning to pass most tariff costs onto consumers and another 22% planning to pass on all additional costs. The report also found mixed responses on how tariffs may impact local businesses, with 37% of respondents expecting to be impacted negatively and 26% anticipating no impact at all. However, another 5% expect positive impacts, which Banaian said points to the diversity of companies in town, and this could be from business-to-business producers. "When we talk to local businesses, they're aware of (tariffs), they're incorporating it into their plans, and they're not panicked about it," Banaian said. "They seem like they're in a place where they're willing to... muddle through." The Quarterly Business Report also explored the anticipated impacts of a new Minnesota paid family and medical leave law that will take effect in January 2026. This law allows most workers to take up to 12 weeks of paid leave for the birth of a child, recovering from injuries or taking care of a parent in hospice. Several lawmakers and business groups opposed the law due to concerns it could place stress on small business owners. A third of survey respondents said they've reached out to the government for guidance on the new policy and another third said they have reached out to state officials for relief. Benton Solar: New solar facility could bring major investments, hundreds of jobs to St. Cloud area Despite concerns about national economic conditions and policy changes, the report found signs of local economic success in its review of local economic indicators. The Leading Economic Indicators, six measurements that are part of each quarterly report, hinted at slight growth over the past quarter and a growth of 1.1% in local private employment over the next four to six months. Professional employment, the St. Cloud Stock Price Index and current economic conditions all improved, though initial claims for unemployment insurance increased and there was no change in new business incorporations. As a result, Banaian said current conditions hint at a slight downturn in the future. He also believes a recession is less likely than he thought at the time of the last Quarterly Business Report, but he is not ruling out the possibility. Despite the mixed signals, Banaian commended the optimism of local business owners and said it is understandable to be worried about tariffs and other economic conditions. "I'm not telling people not to worry; I don't mean that," he said. "I mean that the economy can continue to grow even while worrying because markets are really efficient processors of information... there's a base of optimism in our local leaders that recognizes those concerns and says, 'I'm going to be okay.'" Teagan King covers business and development for the St. Cloud Times. She can be reached at teking@
