Pictured above: James Watkins, executive director of
Business Voice WM
Politicians have been warned not to turn their backs on the West
Midlands once the General Election is over.
James Watkins, executive director of Business Voice WM, said the
region's companies would deliver, as long as they got some
encouragement from Westminster.
He hit out in a speech to the Black Country Diners Club held at
Molineux Stadium, Wolverhampton and organised by Absolute Invoice
Finance, Mazars, Wolverhampton Wanderers FC, Black Country
Reinvestment Society and Alliance 4 the Black Country.
Paul Kalinauckas, chief executive of the BCRS and a BVWM board
member, also spoke at the event.
Mr Watkins said: "This General Election must lead to further
help for hard pressed West Midlands businesses.
"It is they who are Britain's industrial bedrock and that is why
measures need to be put in place to help our economy grow and
create jobs for local people. Business is telling the three main
political parties that they can't turn their backs on the West
Midlands once the election campaign is over while they squabble at
Westminster. Helping West Midlands businesses also means helping UK
plc."
Mr Watkins said small and medium sized operators and even some
large firms were still experiencing problems in accessing normal
bank finance. "We fear a trend towards the banks using invoice
discounting. This method is useful as it provides valuable
short-term finance on the basis of orders that have been received.
But for medium and long-term business planning to invest in
machinery or develop new products, other forms of finance such as
term loans and overdrafts are also required."
Access to credit insurance remained a problem. "We are getting
anecdotal reports that some credit insurers are turning down
construction and manufacturing firms because of the sector they are
in - before examining whether these are viable firms by looking at
their order books. If true, then this has a knock on effect in many
areas such as energy prices where suppliers then demand payment for
bills before any power is used - in part, we hear, because of the
credit insurance rating."
And on skills, Mr Watkins emphasised that businesses wanted
"bite sized training for workforces on shopfloors rather than a
cumbersome curriculum that does not meet their upskilling needs".
He added: "There has been some positive movement in this area -
especially in engineering - but we need a major step change in
provision to enhance the competitiveness base of the Midlands
economy."
Other issues were the need for a more integrated transport
system to bolster the "creaking" network, and on crime against
business better co-ordination between the police, companies,
councils and others to achieve "a united team in cracking down on
criminals".
Mr Watkins noted: "Despite these challenges, let's not forget
that West Midlands businesses are ingenious and have made the
modern world what it is today.
"It is here in the West Midlands that we developed and
manufactured the jet engine, the thermal imaging camera, the x-ray,
cotton wool, spark plugs, disc brakes, LCD screens, black cabs,
computer games - the list goes on and on
"We know how to meet new challenges, make life better and boost
our bottom line. Action in Westminster can free up West Midlands
businesses to concentrate on the day job and create work for local
people. This is what we need now."