Some of Coventry and the surrounding region’s top SMEs came together on Tuesday in a morning of political and business debate at the Coventry and Warwickshire Growth Hub in the centre of Coventry.
Hosted by Yorkshire Bank and the Coventry and Warwickshire Growth Hub as part of the Bank’s Business Week, 50 local and regional business leaders gathered to listen to experts present on the economic outlook for the future following the outcome of the election last week.
Omer Bhatti, treasury specialist for Yorkshire Bank, spoke on the short and long term impact the new government could have on companies in the UK. In particular he focused on the EU referendum, interest rates, as well as looking at the wider impact global recovery could have on business. The presentation was followed by a discussion from the Coventry and Warwickshire Growth Hub on how the local government can help SMEs in the region grow their business by providing practical support and advice.
After the talks there was a short networking session for SMEs in attendance to ask questions and debate the post-election outcome amongst themselves.
Omer Bhatti, Associate Director for Treasury Solutions for Yorkshire Bank, said:
“Now the General Election has passed, businesses can focus on doing what they do best and adding value to the economy. On a macroeconomic level there are still events that can have implications on the UK and the pound such as the stability of China’s growth rate, commodity prices and the US economic recovery but overall the outlook is very positive.”
Craig Humphrey, managing director of Coventry and Warwickshire Growth Hub, said:
“The key message from business over the last twelve months has been the need for stability and consistency. The government cannot deliver upon those requirements without growth and therefore its stimulation, acceleration and maintenance are at the forefront of discussions at a national and local level. Events like today bring the emerging needs of growing businesses into sharp focus.”
Yorkshire Bank’s Business Week, taking place this week (from 11th–15th May), sees more than 250 customer-focused events staged at the Bank’s UK-wide network of Business and Private Banking Centres, including a number of high profile events in the Midlands area. Businesses from across the UK are being invited to meet with some of the UK’s leading financial experts to discuss their most pressing commercial issues such as; planning and securing finance for growth, improving profitability and succession planning.
The Bank has also recently strengthened its support for UK SMEs by becoming the first to partner with the British Business Bank under its ENABLE Guarantees scheme. Up to £125m of new lending by Clydesdale and Yorkshire Banks, guaranteed by the British Business Bank, will help more small businesses achieve their growth ambitions.