Reasons to be cheerful for companies
It has been a tough few years but businesses are finally enjoying a rebirth. Simon Penfold reports
It has been a tough few years but businesses are finally enjoying a rebirth. Simon Penfold reports
This is Good News Week – the chance for businesses across Staffordshire and the West Midlands to tell the region how they have landed a new contract, or have plans to expand or recruit.
If you've got a good business story, email Simon Penfold.
Of course, the Express & Star reports daily about excellence in business.
But there is a danger that among talk of double-dip recession and EU crisis, the positives are pushed to one side.
All this week we will be emphasising those positives to show that, despite the very real and valid fears over the British economy, there are many reasons to be cheerful about the future of our region.
The fact is that, despite all the hand-wringing over the UK's slide, the West Midlands is seeing its busiest time since the start of the recession four years ago.
Walsall-based foundry and engineering group Chamberlin revealed last week that it was back to pre-recession levels of business.
It exports 70 per cent of what it makes and has seen profits soar to £1.4 million compared to £300,000 the year before as sales rose 14 per cent. All three of its foundries, including the one in Chuckery Road, Walsall, have seen workloads grow.
Like Chamberlin, other firms have restructured and rebuilt since the credit crunch of 2008. This meant the pain of job losses, but the pay-off has been a period of unprecedented growth for many.
Steady
Wednesbury based Alucast says it has just had the busiest three-month period it has seen in decades, due to demand for its cast components from industrial customers.
GDP figures last week show the nation's builders are suffering, which is why companies like Wolverhampton-based Carillion are cutting back in the UK to concentrate efforts on growth areas like the Middle East.
But manufacturing is holding steady, and the highly-regarded PMI report earlier this month showed business is stronger in the West Midlands than anywhere else.
What has buoyed up this region is traditional strength in manufacturing, from JLR to the small engineering workshops on industrial estates across the region.
As they keep busy they provide more work for their suppliers, from accountantants and corporate law firms to office furniture makers, IT businesses and cleaners.
Business is working hard in the West Midlands and achieving success. And that is good news for all of us.
