Business and profits are growing in the North West, says new report

Business and profits are growing in the North West, says new report.

COMPANIES across the North West are reporting business and profit growth despite uncertain economic times, claims a new report.

According to a survey conducted by leading North West financial recruiter Howarth Morris, 64% of participants have recorded profit growth in recent months and more than 71% are confident of growth through 11.

The Howarth Morris How’s the Market report invited 30 influential finance and HR personnel in the North West to share detailed business information and also their opinions on the regional economy.

The study revealed that a third of those surveyed were more confident on the state of the economy now than 12 months ago. Also 68% believed there would either be an upturn in the region’s economic performance in 11 or believed it would at least remain stable.

Howarth Morris was set up in 07 by directors Paul Howarth and Sean Morris - two of the most respected and reputable financial recruitment experts in the North West.

Howarth Morris has a network of four offices in Liverpool, Manchester, Warrington and Bolton. Its expert teams pride themselves on communicating regularly with finance professionals in organisations such as AstraZeneca, Fujitsu, Peel, Bibby Group, MWH, Talk Talk, Vestas and Pilkington.

Sean said: “The How’s the Market survey provides us with a unique insight into the sentiment of businesses operating in the North West in 11.

“Whilst confidence is most certainly returning, there are still challenges ahead.

“The survey revealed that the toughest challenge facing local businesses this year is delivering cost/overhead reduction to improve or maintain profitability. Almost a third (32%) of our surveyed participants highlighted this as their biggest challenge.

“Competitor price pressure came in second with 25% of respondents reporting this as their main challenge.”

Paul added: “While 42% of respondents reported that they had decreased headcount through 10 almost 48% expected headcount to increase by the end of 11.

“A positive result of the effects of the recession on recruitment for us is that clients now have much clearer clarity on what they want to achieve through their recruitment - and the value they expect new hires to bring to the business. 

“This also means that candidates can be much clearer in the expectations of them and the expectations they have of the employer - typically leading to much greater value for client and candidate alike. This is resulting in longer-term retention and career development.”

For more information about Howarth Morris or to view the How’s The Market survey, please visit www.howarthmorris.com