THERE are many exciting opportunities available to businesses in the dale, despite uncertainty in the market because of the country’s plans to leave the European Union.
The availability of grants and loans to help businesses grow and develop their customer bases was revealed during the Teesdale Business Awards on Thursday, February 15.
Master of ceremonies and small business development expert John Atkinson said local businesspeople could access cash to develop innovation and digital technology.
He added: “In many ways we are still unclear about how our exit from the European Union will happen and what it will mean to the economy and the businesses of Teesdale. Last year I mentioned that uncertainty is not helpful when businesses want to plan for their future, and 2017 provided little clarity.
“We have seen a base rate rise of 0.25 per cent to bring us back to where we were in August 2016, and recent further indications were that interest rates may be rising again. Some pundits suggesting May – we wait to see those developments.
“Exchange rates have been under pressure and the implications for imports are clear, it does provide some good opportunities for the exporters and support for businesses want to look to develop overseas markets is increasing.”
He expressed concern however, for those who import or rely on overseas supply chains.
Regarding funding he said: “Current opportunities for helping businesses with developing should be taken. County Durham is in the fortunate position of having some dedicated funds to help businesses to maximise the benefits of using digital technology and establishing a strong base to grow their operations.
“Funding or innovation and overseas market development also picture in the priorities for support.”
He added that there remains good news in the region as high profile businesses such as Hitachi continue to establish themselves at Aycliffe Business Park.
