EEDA: Cashflow concerns easing for businesses in the East
ACCESS to capital is improving for businesses in the East of England, despite the continuing difficulties in the wider economy. That s according to the latest quarterly economic report published by the East of England Development Agency (EEDA) which shows
ACCESS to capital is improving for businesses in the East of England, despite the continuing difficulties in the wider economy.
That's according to the latest quarterly economic report published by the East of England Development Agency (EEDA) which shows cashflow problems easing for businesses across the region.
The East of England Quarterly Economic Brief Quarter 1 2010 also shows there is more confidence in the manufacturing sector.
The report covers the period from January to March, and uses figures from the Office of National Statistics (ONS), the Treasury, the Bank of England and other major business surveys, and is produced by the economists of EEDA's Insight East team.
Glenn Athey, director of Insight East, said: "The latest economic intelligence quarterly report from Insight East shows that it is manufacturers that feel most confident in the East of England.
"The good news is that although businesses need to keep prices low while the cost of materials is increasing, access to capital has eased and late payment problems are becoming less of an issue."
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Mr Athey warned that there were still concerns over unemployment in the East, even though figures show a slight easing in the first quarter of 2010.
"The East of England has seen lower levels of unemployment compared to the rest of the UK over the recession and the numbers claiming unemployment benefits have actually fallen slightly between January and March this year.
"We are likely to see an increase in the number of people out of work as the year goes on however.
"Looking beyond the figures, it is important to remember that more people are having to work part-time or do temporary work rather than being in full-time permanent employment.
"There is evidence that the East of England has more skills shortages, but fewer skills gaps, than the UK as a whole. Spending on training is beginning to pick up, but not a great deal yet.
"The report also shows that investment in research and development is being maintained which is important for future growth and recovery of the region's economy.