Coventry and Warwickshire businesses call for stability in 2025
Businesses in Coventry and Warwickshire are appealing for certainty, stability and a platform from which to grow in 2025.
That’s the view of Corin Crane, the chief executive of the Coventry and Warwickshire Chamber of Commerce, who is in regular contact with firms across the region.
He said Coventry and Warwickshire continued to enjoy a more positive outlook than other parts of the country but that companies in the city and the county were crying out for stability.
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.
“And, when we conduct our Quarterly Economic Surveys with businesses across the city and the county, the outlook is normally well ahead of the national average.
“So, we know that this is a great place to invest and to grow a business, and that, as a region, we offer lots of support to companies that want to expand, create jobs and serve their local communities.
“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.
“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.”
