Business grant and relocation in Kent news

Monday 16th November 2009

The Financial and Business Services Survey 2009 commissioned by investment promotion agency Locate in Kent, has revealed that 56% of companies feel optimistic about the financial climate and its impact on their business, compared to just 29% in October 2008.

The results also indicate confidence among businesses is starting to improve with more than half (51%) of respondents feeling their business can grow in the next two years, compared to under a third (32%) in 2008.

While over half of all businesses surveyed in 2008 envisaged a depressed marketplace for at least another year, just over a quarter (28%) of Kent CEOs expected this to be the case in 2010. These results support the suggestion by many economists, that the financial situation is set to improve next year and the indications pointing to an increase in GDP for the UK.

Despite the overall confidence growing in Kent companies since 2008, some stillremain cautious about the year ahead, with only 6% ‘very confident’ about a prompt financial recovery. Overall, financial service companies were found to be more optimistic than those in business services.

When questioned about the effect of Southeastern’s high speed trains to London, and the full launch of services in December, almost half (47%) of all respondents felt it would persuade more companies from the UK and overseas to locate to Kent. More than half the businesses surveyed in East Kent (56%) felt it would encourage investment in the county, followed by 54% in Channel Corridor and 33% in Thames Gateway Kent.

Paul Wookey, Chief Executive of Locate in Kent, said: “We cannot escape from the fact that many businesses have suffered as a result of the recession, but it is encouraging that Kent businesses are more optimistic about their prospects than they were last year. In fact, one in five respondents felt their company’s prospects were better for being based in Kent rather than elsewhere in the UK.

“With the advent of high speed trains making journeys from the county to London faster than ever before, we feel the next year will be very important for Kent and Medway and anticipate good levels of investment in the county and an improved financial situation for Kent’s existing companies."

Source: Locate in Kent

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