Jo Geraghty


Balancing recovery

Date added: 08th Apr 2014
Category: SMEs / Entrepreneurs

UK Export Week has got off to a flying start with seminars, workshops and targeted events across the country.  If previous export weeks are anything to go by the week will not only help UK businesses large and small to improve their export strategies, it will also help to raise the UK’s profile as a nation which is ready to do business across the world.

But is the UK economy ready for growth?  If the quarterly report released by the British Chambers of Commerce is correct then the answer is a resounding yes.  According to the BCC, in the first quarter of 2014 exports in the services sector rose to an all time high and six key manufacturing indices were also at an all time high.  This leads the BCC to conclude that “growth is strengthening in the short-term.”

There is one note of caution in the BCC report and that is that recovery is still too reliant on consumer spending.  This leads the BCC to call of a more balanced recovery with access to business finance being critical in achieving this aim.  As John Longworth, Director General of the BCC said “Only by repairing our broken business finance system will viable, growing firms gain access to the capital that will allow them to invest in their staff and machinery, and enter new markets.”

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