This page has been created to inform you of the sales growth loss that is going on in Wales, and hopefully this will stop this from continuing. Across the UK sales remained constant in Quarter 2, with 37% of businesses reporting that sales remained the same.
However, in Wales there were clear signs that growth lowered in the 2nd quarter.
Although Cardiff had more businesses reporting an increase in UK sales (35%) than both Newport (31%) and Swansea (25%), the capital’s figure was down 6% from Quarter 1.
Cardiff also saw the biggest rise in the number of companies reporting decreased UK sales, up from 6% in Quarter 1, and to 21% in Quarter 2.
Across South Wales, Swansea saw the biggest proportion of companies reporting a drop in UK sales, with over a third (34%) saying sales were down.
Those reporting a decrease in export sales increased from 2% on Quarter 1 to 6% on Quarter 2.
There was a 1% drop in the number of companies in Wales reporting increased export orders (down to 8%), while those with decreased export orders remained the same (5%).
Cardiff was the only area with growth in the number of businesses reporting increased export sales and orders (both up 8%), while Newport saw the biggest drop in the number of companies reporting an increase (down 4%). Swansea has the largest proportion of companies with reduced export sales (7%) and orders (6%).
Graham Morgan, director of the South Wales Chamber of Commerce, said the survey highlighted a “disappointing” slowing of growth
The survey also added to the weight of evidence that cash-flow has become a problem for many businesses. It found almost twice as many businesses found their cash flow worsened (33%) than improved (18%) during Quarter2.
However, Welsh businesses remain optimistic, with over a quarter (28%) expecting their cash flow to increase in Quarter 3 and only 8% expecting it to decrease.
More than twice as many businesses also expect their turnover to increase (44%) rather than decrease (20%) in Quarter 3, while marginally more businesses expect profitability to increase (34%) as opposed to decrease (26%).
Cardiff and Newport remained the most optimistic areas, while Swansea businesses were a little more cautious about their prospects for Quarter3.
In terms of staffing, over three-quarters (79%) of businesses had stable or growing workforces, the same as in Quarter 1.
Some 14% reduced their number of employees, down 1% on Quarter 1. 81% expect a stable or growing workforce in Quarter 3, while just 10% expect to make cuts.
Of the 21% of companies recruiting in Quarter 2, over twice as many were taking on full-time staff (48%) as opposed to part-time (17%) and more businesses were recruiting permanent over temporary jobs. This follows a similar trend to Quarter 1, although there has been a greater shift towards permanent positions over temporary ones in Quarter 2.