Sponsored By
Tough times set to continue
DESPITE extended holiday closures at some companies and order books which may still reflect the pre-credit crunch climate, most manufacturing businesses will find trading difficult in the coming months, Master Cutler Martin Howell said this week.
In a survey of first quarter 2009 trade prospects for traditional industries in the Sheffield region, one of Britain's top five manufacturing centres, Mr Howell said the current state of demand was "patchy."
"We have a few companies who are shrugging of the worst effects of recession in any of their markets. These are specialists, producing materials or components which have a long lead time and require detailed certification.
"Others, unfortunately, are affected by severe downturns in, for instance, the motor industry and are already beginning to feel the effects of what can be quite sharp inventory reductions."
He urged the government to give more attention to its medium-term planning to alleviate the effects of such a downturn.
"Having rescued banks and other financial institutions, and attempted to increase consumer spending, we should now be giving much more thought to encouraging the undercurrents of industrial recovery, perhaps through careful choice of state investments in infrastructure.
"Plans to help companies finance more and better retraining, as well as significant tax concessions on business investment would also be of assistance during this difficult period," said Mr Howell, a former director of Corus, the UK steel producer.
What do you think? Add your comments below.
MORE:
Local News
Local Sport
Arts Guide
Listings Guide
Restaurant Guide
Letters
Email to a friend
Print this page- Katie shines as burns unit opens
- New TV prison drama does time in Sheffield
- MATCH REPORT: Sheffield Wednesday 0 Blackpool 3
- Snow Patrol chats to The Star ahead of their Sheffield gig tonight- LISTEN TO AUDIO INTERVIEW
- SNOW LATEST: Airport reopens as South Yorkshire returns to normal - but wrap up Monday
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Sheffield
Wednesday 08 February 2012
Today
Sunny
Temperature: -4 C to 0 C
Wind Speed: 9 mph
Wind direction: South east
Tomorrow
Light sleet showers
Temperature: -0 C to 2 C
Wind Speed: 9 mph
Wind direction: South west
