Our latest QES results have revealed the signals that are shaping the Staffordshire business landscape, and uncovered a surprising contradiction at the heart of the UK economy.
The survey fieldwork was conducted during May and June 2025, just weeks after the introduction of higher employer National Insurance Contributions (NIC).
It’s fair to say that QES Q2, 2025 was something of a mixed bag of results. On the positive side, there was a slight rise in the number of businesses who reported an increase in sales in the last three months and fewer businesses reporting a decrease in sales in that time. More businesses reported a rise in cashflow during the past quarter. Fewer businesses are expecting to see a drop in future profitability and more businesses expect to see a growth in future turnover.
Interestingly enough, QES results reported a fall in the number of businesses who expect prices to rise. There was also an increase in the number of businesses who expect to see their prices fall in the future.
On a more sobering note, survey results suggested that more businesses have seen a drop in workforce numbers in the previous three months and there was also a reported fall in the number of businesses who expect to grow their workforce during the summer of 2025.
Survey results also picked up a drop in the number of businesses who tried to recruit in the early part of the year, coupled with a worrying statistic of a rise in the number of businesses who have decided against further recruitment.
QES Q2, 2025 also noted a drop in the number of businesses who have invested in plant, machinery and capital and also a decline in the numbers who have increased investment in staff training.
We are one of 51 Chambers of Commerce who roll out the Quarterly Economic Survey (QES) and all results are aggregated to form a national picture of business confidence and outlook.
On a national level, despite some signs of improvement as the initial shock of employer NIC starts to ease, business confidence remains subdued, with labour costs consistently flagged as the most likely cost pressure for businesses of all sectors.
Staffordshire Chambers’ of Commerce would like to thank everyone who took the time to complete our QES in Q2, 2025. The next QES will be launched in August, so watch out for further comms, nearer the time.
If you have any questions about our QES, feel free to get in touch:
