Partner Article

North East businesses need short term support

North East companies could suffer unless they are given help with the challenges currently facing them, regional business leaders have said this week.

Following the release of figures showing a ‘frightening’ downturn in the UK’s economy, the North East Chamber of Commerce (NECC) has published its latest economic data which show that firms are in the grip of the economic downturn.

The NECC North East Business Barometer, a quarterly economic survey of the region, shows the impact that the global slowdown is having and graphically illustrates the need for immediate measures to be taken to bring stability to the economy.

James Ramsbotham, NECC chief executive, said: “The North East has very strong businesses with good medium and long-term prospects that are facing tremendously difficult short-term challenges.

“We cannot allow businesses that have the potential to drive economic growth for years to come to be weakened by any failure to respond.

“The data in NECC’s business barometer should be seen as a call to action for those organisations that can bring the change needed to help companies get past these challenges.”

Among a range of measures planned for 2009, NECC will work with its newly-created Fiscal Policy Working Group to identify and lobby against areas of taxation and red tape that it feels are harming businesses’ ability to compete. It will continue to campaign for the full restoration of empty property rate relief under the Building on Success campaign banner as well as its ongoing work to encourage councils to work more closely with local firms via the Buy North East campaign.

The NECC has also pledged to ensure that significant steps are taken to improve planning, transport and energy.

This was posted in Bdaily's Members' News section by Ruth Mitchell .