Support and clear guidance needed for Shropshire businesses
A business leader has called for more support and clear guidance from the Government to help firms bounce back from the coronavirus pandemic.
Commenting on the latest quarterly economic survey for the region taking in the coronavirus lockdown, Richard Sheehan, chief executive of Shropshire Chamber of Commerce, admitted some of the findings made worrying reading, but there were some positive signs.
Key findings in the survey include firms reporting a large slump in domestic and export sales as well as a fall in cash flow.
"Given the situation, the impacts are not wholly unexpected," Mr Sheehan said.
"The fact that it is a worse situation than the 2009 crash tells us the extent of the challenges businesses are facing now and going forward.
"The Government needs a clear plan to support recovery and it needs to be put in place so it responds to business needs.
"It needs to listen what is happening on the ground and that each sector needs a different level of support.
"However, there are a number of positive indicators, including an increase in trade documentation which would suggest people are getting back into the world of export.
"There are positive signs and some sectors are demonstrating growth, but there will be tough times ahead.
"My message to businesses is work together as strength in numbers is crucial."
Meanwhile the British Chambers of Commerce has called for “swift, substantial and immediate action” to bolster the economy, as its National Quarterly Economic Survey – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – found that UK economic conditions deteriorated at an unprecedented rate in the second quarter of 2020.
Dr Adam Marshall, director general of the BCC, said: "The Government has one chance to jump-start the economy and business confidence over the coming weeks – and they must take it.
“Business communities across the UK want to see a clearer, bolder roadmap to recovery that helps them restart, rebuild and renew. The UK cannot meander its way back to success in this era of uncertainty. The only way to re-kindle business and consumer confidence is to demonstrate an absolute and unshakeable focus on boosting the economy over the coming months.”
