Welcome by Cllr Izzi Seccombe, Leader of Warwickshire County Council
Welcome to 2015’s first business news and information update from Warwickshire County Council.
This year is looking positive for Warwickshire's economy and there are many successes we can build upon.
In 2014 we saw growth across our business sectors and particularly strong performance in manufacturing. The number of people claiming jobseekers allowance reduced to its lowest level since records began. And, along with our partners in Coventry, our Local Enterprise Partnership (CWLEP) was the best performing outside London in attracting inward foreign investment.
Recent Gross Value Added (GVA) figures published by the Office of National Statistics have shown that, in 2013, Warwickshire's total output (the value of all goods and services produced in the economy) was £12.9bn - an increase of 2.9% on the previous year.
Of course, we can’t be complacent and 2015 will undoubtedly present its challenges but confidence is growing and there are encouraging signs for the year ahead.
National research from the Federation of Small Businesses (FSB) shows that 62% of small firms expect to grow their business in 2015. In Warwickshire small and medium sized enterprises (employing up to 250 employees) play a vital role in our economy and account for 99.6% of our businesses.
There’s good news for our successful tourism industry as VisitBritain predict record spending levels by overseas visitors this year. Warwickshire continues to be one of the top destinations outside London and at the CWLEP, a new culture and tourism group has been launched to grow the tourism economy and bring additional jobs and visitors to the area.
The sub region’s service sector is also at its most confident since the recession. The Coventry and Warwickshire Chamber of Commerce found, in their last Quarterly Economic Survey, 74% of firms in the service industry believed turnover would rise over the next year.
As you will see in our news section, the first phase of improvements between M40 Junction 12 and Jaguar Land Rover has started to unlock further economic growth in the area. We have secured a further £100,000 of funding to help young people get into the workplace and continue to drive the costs of public services down. And just recently, councillors met with games developers and digital creatives at Arch Creatives which is providing low cost co-working spaces in the county’s burgeoning gaming industry.
I am also pleased to welcome a guest column in this edition from Monica Fogarty, strategic director of the council’s Communities Group, about the Skills for Employment Programme. We fully recognise that hiring skilled staff is vital, particularly in areas such as advanced technologies. We also know that business leaders care greatly about our future workforce and opportunities for young people. By working together with employers and educators we hope to bridge the skills gap and match supply and demand.
In 2015 I hope that we can help your business to grow and I urge you to make the most of the support available. For instance, if you are a boss wanting to find suitable premises for expansion let us take the headache away with our free property search service. If your workforce is set to grow and you are considering taking on an apprentice, have a chat with our Apprenticeship Hub find out the suitability and benefits to your business. Or if you are a small rural enterprise trying to get off the ground, make sure you are not missing out on the wealth of support and funding provided by the Rural Growth Network.
There are many ways that we can help and please get in touch on 01926 418067 or visit the Our Services section to find out more.
Wishing you a very successful and prosperous New Year.
Izzi