There are just over five weeks until the Chancellor of the Exchequer unveils the Autumn Budget but what are the current levels of business confidence, here in Staffordshire?
We recently rolled out our latest Quarterly Economic Survey (QES), the UK’s longest running independent survey of business sentiment. From mid-August into September, we sought the views of business owners about their levels of business confidence, in what has been a challenging year. What can we detect from the QES Q3 results?
It didn’t come as a surprise to note that the QES picked up a fall in the number of businesses reporting an increase in export sales in the last three months. There was also a fall in the number of businesses reporting an increase in advanced export sales and more businesses reporting a slowing of advanced overseas sales.
2026 has been such a turbulent year for overseas trade, with a tariff war and ongoing conflict in the Middle East, with no immediate prospect of peace.
QES findings also picked up that fewer businesses have increased their workforce in the last three months, coupled with a rise in the number of businesses who reported cutting back on their workforce numbers in the same period. More businesses expect to reduce their workforce in the next three months.
Labour costs and utilities continue to be the main cost pressure facing businesses.
On a more positive note, QES Q3 2026 results found
more businesses reporting a growth in past domestic sales and fewer reporting a drop in sales. There was a rise in the number of businesses reporting a growth in the levels of advanced domestic orders or bookings and a fall in the number of businesses reporting a decrease in future orders or bookings.
More businesses reported an increase in cashflow, with fewer businesses reporting a drop in cashflow.
When it comes to investment in training, it was good to see a continued uptick in the number of businesses investing in training, coupled with fewer businesses cutting back in this area.
There was a slight rise in the number of businesses who expect future turnover to increase and a fall in the number of businesses who expect prices to increase.
The business community breathed a huge collective sigh of relief with the Bank of England opting to hold interest rates for the sixth month in a row. The decision was made with a warning that interest rates could be pushed back up, if energy prices remain high, due to conflict in the Middle East.
Staffordshire Chambers of Commerce would like to pass on our sincere thanks to all who took the time to complete a QES. Your input is invaluable to us.
If you have any questions about our latest QES, please contact me:
