Member Article

Entrepreneurs' Forum chairman urges caution on GDP optimism

Strong UK economic growth figures expected to be announced this week should be welcomed with a note of caution, says a leading North East entrepreneur.

GDP figures for the third quarter of 2013 are due to be announced on Friday, with some commentators suggesting they will show the strongest growth in the economy since the General Election.

However, Nigel Mills, chairman of the Entrepreneurs’ Forum, said: “Strong growth is to be welcomed, and we have entrepreneurial businesses to thank for a large part of any growth we do see in Friday’s figures. However, it is important that any optimism we do draw from these latest indicators is tempered with caution.

“Even if we do see the strongest growth figures since the Election, there is a lot of work to be done and the UK is not independent of the global economy and other markets. Uncertainties in the US market and elsewhere around the world will still have an impact, so we cannot afford to be complacent.

“One thing is for certain, however, is that there is strong positivity among entrepreneurs in the North East, borne out in the results of the latest survey of Forum members. Two thirds of members said they expected sales to increase and a similar proportion were equally optimistic about growth in profits, while 88% believe they will retain their current staffing levels or increase them in the coming quarter.”

This was posted in Bdaily's Members' News section by Recognition PR Business Team .