In his regular column for Caerphilly Observer, Caerphilly Business Forum’s chair Tony Sheehan looks at the recent economic recovery news.
Last week’s GDP figures showed that for the first time, the UK’s economy was improving. Whilst this is doubtless good news, it must be taken with a pinch of salt.
While, the announcement was certainly a boost for the UK’s economy, there was the caveat that a lot of the income had come from the Olympics and Paralympics, which brilliant as they were, are unlikely to be replicated in the near future.
The headlines rang out that the UK was finally out of the double dip recession, but for many, it doesn’t really feel that all that much has changed.
Closer to home, the UK manufacturing sector shrank in October for the sixth month in a row. With so many manufacturing businesses in Caerphilly, this is not something to be ignored.
With rising fuel costs bound to have a massive impact on homes across Caerphilly this winter, as well as the proposed cuts to numerous benefits, I’m sure that the borough won’t be popping champagne corks in celebration at the end of the recession just yet.
However, as always, it isn’t all doom and gloom and there are still opportunities out there for companies to thrive if they know where to look.
The Welsh Government has recently announced that £50,000 is available for Caerphilly businesses through the Heads of the Valleys Business Seed Capital Fund.
A huge increase on last year’s £15,000, this money is available to new or existing businesses in the Caerphilly County Borough area to set up or expand, by providing support for new capital equipment. Any businesses keen to find out more can click on this link.
This is also a great time for businesses to consider employing 16 to 24-year-olds with recruitment grants available at record levels.
With the festive season fast approaching, I’d urge Caerphilly businesses to try and give a job this Christmas.
Tony Sheehan
Chairman, Caerphilly Business Forum
For more information about Caerphilly Business Forum and its events call 029 2125 1395 or email Natalie@cbforum.co.uk