Flint Bishop

Politicians must not walk away from West Midlands

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."

 

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Article published by Midlands Business News on 22 April, 2010

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Articles submitted by Business Voice West Midlands:



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