Businesses in Andover have taken part in a countywide survey run by Hampshire Chamber of Commerce. The results give a clear picture of how local firms are doing – and show that many are still finding things tough.
Four out of ten businesses said their cash flow has got worse in the last three months. Almost two-thirds are not working at full capacity, which means there’s still a lot of unused potential in the local economy. While sales have mostly stayed the same, some companies are beginning to see a drop.
There is a bit of hope. Just over 40% of businesses said they think their turnover will grow over the next year. But most are still worried about the same issues: rising costs, high taxes, and the price of staff. Investment in training and equipment hasn’t gone up much either.
Most of the survey responses came from smaller businesses, especially in areas like health, education, and public services. The Chamber will run the next survey in August and wants even more Andover businesses to take part. The results help shape support for our local economy and make sure Andover’s voice is heard.