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Cumbria LEP Business Survey 2015/16

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Cumbria LEP Business Survey 2015/16 Research Report Cumbria Business Survey 2015/16 – Final Report Prepared for: Cumbria Local Enterprise Partnership Cumbria Business Survey 2015/16 – Final Report Prepared for: Cumbria Local Enterprise Partnership Prepared by: June Wiseman, Director and Emma Parry, Associate Director, BMG Research Date: August 2016 Produced by BMG Research © Bostock Marketing Group Ltd, 2016 www.bmgresearch.co.uk Project: 9808 Registered in England No. 2841970 Registered office: BMG Research Beech House Greenfield Crescent Edgbaston Birmingham B15 3BE UK Tel: +44 (0) 121 3336006 UK VAT Registration No. 580 6606 32 Birmingham Chamber of Commerce Member No. B4626 Market Research Society Company Partner British Quality Foundation Member The provision of Market Research Services in accordance with ISO 20252:2012 The provision of Market Research Services in accordance with ISO 9001:2008 The International Standard for Information Security Management ISO 27001:2013 Investors in People Standard - Certificate No. WMQC 0614 Interviewer Quality Control Scheme (IQCS) Member Company Registered under the Data Protection Act - Registration No. Z5081943 The BMG Research logo is a trade mark of Bostock Marketing Group Ltd Table of Contents 1 Executive Summary ....................................................................................................... 1 1.1 Background............................................................................................................. 1 1.2 Method .................................................................................................................... 1 1.3 Business/organisation profile .................................................................................. 2 1.4 Impact of 2015 Floods ............................................................................................ 3 1.4.1 Extent of impact ............................................................................................... 3 1.4.2 Nature of impact .............................................................................................. 3 1.4.3 Financial impact ............................................................................................... 3 1.4.4 Action taken ..................................................................................................... 4 1.4.5 Impact on trading ............................................................................................. 4 1.4.6 Future concerns ............................................................................................... 5 1.5 Trading and Investment .......................................................................................... 5 1.5.1 Location of decision-making ............................................................................. 5 1.5.2 Markets served ................................................................................................ 5 1.5.3 Trends ............................................................................................................. 6 1.5.4 Business constraints ........................................................................................ 6 1.5.5 Short-term outlook ........................................................................................... 6 1.6 Growth .................................................................................................................... 7 1.6.1 Employment growth ......................................................................................... 7 1.6.2 Turnover growth ............................................................................................... 7 1.6.3 Drivers of growth .............................................................................................. 8 1.6.4 Growth indicators ............................................................................................. 8 1.7 Skills Gaps and Shortages ...................................................................................... 9 1.7.1 Skill gaps ......................................................................................................... 9 1.7.2 Skill shortages ................................................................................................. 9 1.8 Training ................................................................................................................... 9 1.8.1 Provision of training ......................................................................................... 9 1.8.2 Barriers to training ........................................................................................... 9 1.9 Infrastructure developments in Cumbria ................................................................ 10 1.9.1 Moorside Nuclear Plant development ............................................................ 10 1.9.2 Other infrastructure developments ................................................................. 10 Cumbria Business Survey 2015/16 – Final Report 2 Introduction .................................................................................................................. 12 2.1 Background........................................................................................................... 12 2.2 Method .................................................................................................................. 12 3 Impact of 2015 floods ................................................................................................... 15 3.1 Key points ............................................................................................................. 15 3.2 Experience of storm and floods ............................................................................. 17 3.3 Persistency of problems caused by storm and floods ............................................ 19 3.4 Financial implications of storm and floods ............................................................. 20 3.4.1 Financial losses/costs .................................................................................... 20 3.4.2 Financial gains ............................................................................................... 22 3.5 Actions taken as a result of the impact of storm and floods ................................... 23 3.5.1 Grant applications .......................................................................................... 24 3.5.2 Sourcing business advice .............................................................................. 25 3.6 Trading circumstances .......................................................................................... 26 3.6.1 Current status of business ............................................................................. 26 3.6.2 Mitigations ..................................................................................................... 28 3.7 Perceptions of longer term impacts of the storm and flooding ............................... 29 3.8 Views on the importance of a positive PR campaign ............................................. 31 3.9 Concerns in the near future ................................................................................... 31 4 Trading and Investment ............................................................................................... 33 4.1 Key points ............................................................................................................. 33 4.2 Location of key decision-making ........................................................................... 34 4.3 Markets ................................................................................................................. 35 4.3.1 Customer types .............................................................................................. 35 4.3.2 Customer location .......................................................................................... 37 4.4 Business trends .................................................................................................... 40 4.4.1 Trends in the last 12 months .......................................................................... 40 4.4.2 Anticipated trends in the next 12 months ....................................................... 48 4.5 Business constraints ............................................................................................. 51 5 Growth ......................................................................................................................... 59 5.1 Key points ............................................................................................................. 59 5.2 Employment growth .............................................................................................. 60 5.3 Turnover growth .................................................................................................... 63 5.4 Drivers of growth ................................................................................................... 65 2 Executive Summary 5.5 Growth plans ......................................................................................................... 67 5.6 Growth indicators .................................................................................................. 70 6 Skills Gaps and Shortages ........................................................................................... 75 6.1 Key points ............................................................................................................. 75 6.2 Skill gaps .............................................................................................................
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