CASHFLOW, exchange rates and a lack of available finance are the most pressing concerns for firms as they look ahead to 2009, an exclusive poll for the Manchester Evening News has revealed.

Other major headaches include staff costs and energy and fuel bills.

Significant numbers are preparing to make job cuts as the recession bites and almost a third of firms have scaled back their investment plans, but the survey of more than 3,000 businesses also found a good degree of optimism about the forthcoming year.

Half of respondents expect their revenues to rise, while 44 per cent anticipate higher profits.

The most confident of those which took part are involved in the accountancy, financial services, creative and media, outsourcing and support services sectors. Property-related businesses are the gloomiest.

Research for the first North West Business Survey was carried out with Manchester-based lender Bridging Finance.

On the jobs front, almost one in four firms had cut their workforce during the past three months, with law firms and property sector businesses among the worst hit.

Some sectors are flourishing and 34pc of firms said they took on more staff during the period, with the biggest recruiters in the creative and media industries.

Chris Baguley, Bridging Finance's managing director, said: "Current conditions are affecting different businesses in different ways. While the general outlook is positive, there is a degree of polarisation in different sectors.

"Most of the responses we received from those in the property industry showed they are undergoing some drastic adjustments in terms of their business operations and their expectations for the coming months.

"In contrast, accountants seem incredibly optimistic about the coming year and do not seem to be implementing significant changes to their current practices.

"Some businesses have been far more industrious than others in taking measures to combat the crunch."

He added that the diversity of businesses puts the north west in a strong position. Tweet