ENTREPRENEURS in Oxfordshire are upbeat about the county’s prospects, despite an uncertain global economy.

Nearly half of business people believe prospects remain stable for the next quarter, with 19 per cent predicting a positive pick-up, according to a new survey.

The Oxfordshire Business Barometer was launched jointly this month by In Business magazine – published by the Oxford Mail’s sister paper The Oxford Times – and law firm Withy King.

Only 32 per cent of respondents thought market conditions were getting worse.

Richard Baxter, corporate partner at Withy King, said: “While the global economic outlook continues to cause uncertainty, Oxfordshire’s businesses seem to be responding with appropriate and admirable calm.

“I would attribute such rational confidence to a healthy dose of perspective, given the region’s clear competitive advantages.”

The survey, involving more than 100 business people, is designed to provide a snapshot of the economy. It will be repeated every three months while the present climate of economic global uncertainty persists.

Over the past year, 62 per cent of respondents reported an increase in turnover with 27 per cent with a further 27 per cent saying it had stayed the same. In the same period, 53 per cent said they had seen an increase in new work, and 36 per cent said their order books had remained the same.

Looking to the future, 53 per cent thought turnover would increase during the final quarter of 2011, with another 38 per cent believing it would stay constant.

Only nine per cent expected to see turnover drop.

On employment, 29 per cent expected to boost their workforce headcount during the last quarter of 2011. Another 60 per cent said it would remain the same.

Only 11 per cent forsaw decreases in their worker numbers.

On investment, 69 per cent are planning to pump money into their businesses this quarter, with 37 per cent of those planning to invest in people, 37 per cent in research and development, and 26 per cent in premises.

A round-table debate about issues raised in the Barometer will be held on November 17. Directors of Oxfordshire companies are invited.

For more information, or to join in the survey, email barometer@withyking.co.uk

CASE STUDY 1

LONG HANBOROUGH lorry and trailer contract hire and leasing company Axis Fleet Management has seen a 35 per cent rise in revenue over the past year.

The firm was established in 2004 and now employs 24 people, supplying 400 trucks and 1,500 trailers to small hauliers as well as some of the largest transport companies – reaping the benefit of its location in the middle of the country.

Managing director David Potter said: “One of our customers’ biggest headaches is the cost of fuel.

“We give them the means to understand their drivers’ behaviour and how that affects fuel efficiency using the latest telematics solutions and expert support to manage the changes.”

He added; “We are optimistic because we know trucks and trailers will continue to be the primary means of delivering goods to supermarkets and other retailers.”

CASE STUDY 2

OXFORD company Roxar, which develops computer software for the oil and gas industry, has seen a 30 per cent increase in sales over the last two years from £5m to £6.7m – and hopes for a further 15 per cent increase in turnover during 2012.

It was established in 1998 and employs 16 people. Now it has outgrown its premises on East Point Business Park and is about to move to the Oxford Science Park where it plans to recruit another three or four graduates with backgrounds in physics and maths.

Technology manager Robert Frost said: “The Oxford brand is very helpful to our business, particularly when it comes to recruiting people from elsewhere in the UK or abroad – everyone has heard of Oxford!”

He added: “The downside is the high cost of living, and housing in particular, but on balance our location is net positive.

“Having such a well-regarded university on our doorstep is an added bonus.”