Plenty of evidence that the local economy can weather the credit crunch
Published Date:
15 January 2008
ANY regular reader of the business press might well think most companies are on the edge of an abyss as the credit crunch hails first a slowdown in the economy, and then a quickly following recession.
But, as ET Business reports this week, there is plenty of good news coming from Peterborough companies to suggest the city is buoyant and still a good place in which to do business.
Peterborough heavyweights, the Norwich and Peterborough Building Society and the TV and internet shopping operator Ideal Shopping Direct, have both reported highly encouraging sales and customer figures.
The N&P has revealed record mortgage lending for last year while Ideal Shopping has seen its sales rise and its customer numbers reach new heights.
The chief executives of both companies, Matthew Bullock at N&P, and Andrew Fryatt at Ideal Shopping Direct, have shown a deft touch to guide their businesses successfully through awkward times.
And as we report on page 6, the new eastern regional director for Barclays Commercial, Paul Simmons, says that optimism is high among businesses in the area and that money is still available for quality companies that want to grow.
The odds are high on tougher times ahead – but there is plenty of evidence to suggest Peterborough can weather the storm.
The full article contains 226 words and appears in Peterborough ET newspaper.
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Last Updated:
15 January 2008 1:22 PM
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Source:
Peterborough ET
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Location:
Peterborough
