Business confidence in the county is rising – but cost concerns continue to dampen down expectations for the year ahead, according to a major survey.

The findings come in the latest edition of Kent’s Quarterly Economic Survey, covering the fourth quarter of 2023.

It found that, consistent with the previous quarter, labour costs, other overheads and utilities remain the main price pressure followed by the cost of raw materials, finance and then fuel.

On a more positive note, it revealed the net balance of businesses’ profitability expectations over the coming 12 months increased from minus-16% to a healthier plus-24%.

That rise is driven mainly by the service sector.

The survey, carried out by the Kent Invicta Chamber of Commerce on behalf of the British Chambers of Commerce, quizzes business bosses to answer if they have a seen an increase or decrease across a range of metrics such as domestic sales, cash flow, the labour market and business confidence.

There was a modest increase in domestic sales and orders and slight improve in export sales and orders.

There was better news when it came to the labour market, with 19% of firms reporting an increase in employment levels over the three months with 32% expecting to hire more staff in the current quarter.