Kent’s Quarterly Economic Survey Q3 2022
Anticipating the price pressure around utility costs, raw material costs and labour costs, we at the Chamber wanted to know more specifically about business confidence on (at least) survival through the next three months if it came down to surviving just on the business reserves. And the outcome looks brighter than expected, even in such trying times.
86% of Kent Businesses reported that they are confident on their reserve to make it through the next three months, with the current price pressure and inflation rates. 50% of businesses reported that they are completely confident, 36% of businesses reported that they are somewhat confident and lastly 15% of businesses reported that they are not confident on their reserve to make it through the next three months, with the current price pressure and inflation rates.
Majority of the respondents, 84%, are not currently using any of the government financial aids but when asked if they’d need additional financial aid then 41% said yes.
When asked what type of financial aid exactly the businesses would need, we got a range of answers, but the common theme was relief in the utilities cost, fuel cost, energy cost, energy bill relief etc.
