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The UK does not lack growth potential, it lacks the ability to turn that potential into delivery

18th August 2026

 

The Quarterly Economic Survey is the UK’s largest and longest running survey
of business sentiment. Founded in 1989, and compromising of around 5000
respondents nationally each quarter, it provides insight into how UK businesses
are performing each quarter.

Here in Surrey, 103 local businesses took part in the latest survey, and their
answers are more cautious than the national average in places, but far from a
business community that has stopped moving.

In Surrey, just 9.5% of businesses plan to increase investment, while 36.8% are
cutting back, well above the national 26%. As well as this, nearly 69% of local
firms say they’re operating below full capacity, which explains much of the
hesitancy. When there’s spare capacity already in the system, it’s expected to
hold off.

This quarter has shown training budgets have held up with half of firms
keeping spend constant over the past three months, and almost 22% increased
it, showing it essential for Surrey businesses to invest in their teams.

Surrey firms are slightly more optimistic on turnover than the national picture,
with 47.6% expecting it to improve, against 44% nationally. However, 32%
expect it to worsen, above the 23% nationally. Profitability confidence is an
almost even split: 38.8% expect improvement, 36.9% expect it to worsen.

Inflation remains the top concern for Surrey firms with 60% citing it as the
largest concern, followed by taxation at 52.4%. Behind those figures sit specific
decisions: National Insurance changes, minimum wage rises and employment
law reform.

Despite the caution, 38.2% of Surrey firms tried to recruit in the last three
months, mostly for full-time roles. Of those, 58% found it difficult to find
suitable staff, with professional and managerial roles the hardest to fill.

The challenge now is building an environment where caution can turn back into
confidence. Q3 of the Quarterly Economic Survey is now open, and we need
you to take a few minutes to complete it.

Every response helps strengthen the
picture of our local economy and ensures the experiences and concerns of
Surrey businesses are represented. Take part today.