The South Wales Chamber of Commerce’s latest Quarterly Economic Survey, released today, reveals that businesses across Gwent are confident about future growth, and have increased their investment in training and equipment over the last quarter.

The Q2 survey for 2013, which is sponsored by Santander, shows that 97 per cent of businesses increased or maintained their investment in equipment and machinery, while almost 99 per cent increased or maintained current levels of investment in training.

This is up on the Q1 figures of 83 per cent and 90 per cent respectively.

The survey shows that 88 per cent of businesses are optimistic about their profit margins over the next 12 months, expecting to either increase or maintain their profitability. Sales figures for Gwent were also strong, with 87 per cent of businesses increasing or maintaining levels of trade within the UK, compared to 78 per cent in the last quarter.

The Quarterly Economic Survey monitors the performance of businesses in Newport, Swansea, Cardiff, mid Wales and the surrounding areas and acts as a barometer for the strength of the Welsh economy.

Graham Morgan, director of the South Wales Chamber of Commerce, said: “The inclination towards future investment is promising, and while the current economic climate is far from perfect, the sales figures for businesses in Gwent are strong.

“It demonstrates that confidence is returning to the business community in Gwent, and businesses are continuing to think and plan ahead for future growth.”

The number of businesses reporting pressures due to the cost of raw materials needed to operate also fell, down to 46 per cent from 64 per cent last quarter.

Mr Morgan said: “Our priority now should be to nurture this confidence and help to build an environment that will help businesses to improve their sales and reach out to new markets.

“The Welsh Government has its part to play here, and increased investment in infrastructure, including pushing ahead with key projects such as Superfast Cymru, will help to achieve this.

“A super-fast broadband network that covers the whole of Wales is essential if we really want to enable businesses to make the most of international opportunities.

It will also be crucial to Welsh Government’s plans to grow the Welsh tourism industry by 10 per cent by targeting the US, Irish and German markets.

“The announcement last week of a public consultation on the M4 relief road is a positive step forward.

“The South Wales Chamber has been lobbying for this since 2010 and it is fantastic to see that it finally seems to be gathering momentum. Not only will create much need jobs in construction, it will open up opportunities for existing businesses to grow, and lead to inward investment post construction.

“The chamber is available to provide professional support and advice to businesses in Wales. We have just completed a successful Business Advice Month which saw us run advice sessions across Wales together with specific workshops on accessing foreign market places.

“The events were very well received, and we intended to run more in the future, so I would urge businesses to get in touch to find out how we may be able to help.”

The results of the latest QES were announced today at a special State of the Nation address from Dr Adam Marshall, director of policy and external affairs at the British Chambers of Commerce. Dr Marshall provided commentary on the QES and what the results mean for Wales.

He said: “The latest QES, which is the UK’s largest and most representative business survey, shows some real improvements in business performance and confidence. While the results for Wales are not quite as positive as those for many other parts of the UK, I was heartened to see that employment among Welsh respondents had increased over the last three months, and that forward business confidence was buoyant.”