Coventry and Warwickshire businesses calling for stability in new year
Its following the immediate closure of a major restaurant chain in Coventry city centre this week
Businesses in Coventry and Warwickshire are calling for more certainty and stability in the new year.
Coventry and Warwickshire Chamber of Commerce have been sharing their plans to provide businesses with a platform to grow in 2025.
Chief Executive of Coventry and Warwickshire Chamber of Commerce, Corin Crane, has been telling us how the past few years have impacted growth in the region.
Corin said: "We live, work and play in an incredible region that has everything – from forward-thinking, global manufacturers through to some of the most amazing places for leisure and tourism.
“All that said, there is no doubt that the past few years have been tough – going all the way back to the uncertainty around Brexit, followed by Covid and then a series of global events that have impacted here.
“There was a feeling that the new Government would bring stability but the messaging around the Budget followed by the increases in business costs have had a further impact on confidence.
"We ended 2024 with very mixed economic news – GDP has been flat, interest rates have stayed at 4.75 per cent when we hoped they might have come down further and interest rates has just ticked up to 2.6 per cent.
"Therefore, the majority of businesses we speak to across the region are really hoping that 2025 brings some certainty and stability so that they can plan for growth.
"Of course, the Government isn’t responsible for global circumstances but when it comes to messaging and policy around business over the next 12 months, certainty is the key word."
The Chamber of Commerce are supporting businesses across the region to drive growth back into the region this year.
Corin said: " Above all, we need to see policies that drive economic growth and quick reactions to those that are holding this growth back – we know our local businesses are world beaters, they just need political decisions to be made to help them on their way."
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