The Island’s economy is strengthening, according to the Isle of Wight Economic Partnership’s sixth Barometer Business online survey, covering January to March.
The stronger performing businesses are continuing to move forward and more have indicated an improvement. Over 50% of businesses are more optimistic about the future, an improvement on the last survey. Graham Biss, Chief Executive, Isle of Wight Economic Partnership said. “Looking ahead to the next six months, the respondents appear optimistic with a third of businesses expecting profit margins to increase however, 21% of businesses continue to expect a reduction in their margins. Overall the outlook appears stronger, with more businesses expecting to see their reported trading conditions continue.”