Sponsored by
Predicting the future for Peterborough firms
The mince pies and turkey have long since been eaten and the new year resolutions trotted out; now it's time to face the real world. Which means more of the same challenging times ahead for city businesses in 2009.
The mince pies and turkey have long since been eaten and the new year resolutions trotted out; now it's time to face the real world. Which means more of the same challenging times ahead for city businesses in 2009.But Peterborough should continue to be well-placed to grow, especially if firms and organisations can find new and innovative ways to raise finance.
There will be opportunities both for existing businesses and those losing their jobs, according to chief executive of Peterborough Chamber of Commerce John Bridge.
He said: "The city will continue to have a large predominance of environment-related businesses and there will be a large demand for green services.
"The logistics and distribution industry will prevail,with a very significant number of goods being transported.
Exporters should find opportunities to prosper in the wake of a weak sterling."
It is also a time of major job losses, which has its positive side. People can utilise their skills and experience to start up a new business. Peterborough, in recent months, has had a high number of start-ups, more than anywhere else in the region.
The key to future prosperity , though, according to Mr Bridge, is "the need to put pressure on banks" to improve the supply of cash.
"Liquidity is the problem – financial institutions need to get their act together to help small businesses to survive," he said.
Director of CBI, East of Eng- land Richard Tunnicliffe agrees that "getting credit flowing in the economy" is vital.
Without specifying measures, he said Government could do more to kick-start the economy, but it had to be a balanced package – to help businesses, and business confidence, as well as consumers.
Measures in the Pre Budget Report such as the cut in VAT would take some time to impact on the economy, while the relief on empty properties is seen as a positive step both for small and larger companies.
Among those looking into the crystal ball for the year ahead is gift store Reba owner Rachel Parkin who wants banks to start lending in order to restore confidence in the economy.
Head of residential division of property consultancy Carter Jonas Paul Norton agrees but goes further to say that regulations regarding the borrowing of money have to be sorted out. That is, the root of the problem, not the result of the problem.
"For example, there is plenty of cheap finance, which is often deferred, when buying cars and furniture," he said.
"But there have to be proper guidelines in place."
Putting a different slant on things is Stuart Manning, principal at chartered accountants and business advisers MacIntyre Hudson, who takes the "Obama route" when he says that confidence has to be re-instated to consumers and businesses.
"I hope Barack Obama gets off to a good start, generates a feelgood factor in the States which then finds its way over here," he said.
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Peterborough
Wednesday 23 May 2012
Today
Cloudy
Temperature: 11 C to 22 C
Wind Speed: 10 mph
Wind direction: North
Tomorrow
Cloudy
Temperature: 11 C to 21 C
Wind Speed: 14 mph
Wind direction: North east
Your view
Please sign in to be able to comment on this story.