Business hopeful about progress

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Tim Stansfeld, from the South East England Development Agency, explains the survey's results

More businesses in the South East are hopeful the economy will improve, though many remain fearful it will deteriorate further, says a new report.

The latest regional economy report by the South East England Development Agency (Seeda) suggests that the pace of decline may be "bottoming out".

The report, shared exclusively with the BBC, also outlined business fears.

Two thirds expected the climate to either improve or remain stable over the next twelve months.

This figure is up from less than half in Seeda's December survey.

However, firms expecting the business climate to get worse still outweigh those expecting it to improve.

Some improvements

Over half of businesses in the South East reported that their performance had declined over the past year and 77% recorded an output below capacity, compared to 29% who said that their performance remained stable.

Sarah Bartholemew who owns a design business in Tunbridge Wells said: "I'm hoping that the turnaround is one that is going to last and carry on getting better.

"People are very positive, they don't want their businesses to go down, they don't want to be in debt. Everybody wants to succeed."

Seeda, a government-funded agency representing Berkshire, Buckinghamshire, Hampshire, the Isle of Wight, Kent, Oxfordshire, Surrey and East and West Sussex, was set up in 1999 to boost the economic regeneration of the South East.