Firms fighting on in tougher times
Oct 14 2009 By The Journal
THIS year's Fastest 50 demonstrates that despite the tough times we are experiencing, the North East still boasts an abundance of fantastic, vibrant companies that are moving forward.
The recession has had a major impact on our businesses and communities and it's a particular credit to these companies that they have continued to prosper in such challenging times.
I have no doubt that the continuing success of these firms will help lead the region out of the current economic downturn and into better times once again.
While there are still many economic challenges to overcome, the signs are encouraging that such good times aren't too far away with evidence of increased confidence across the high street, house prices on the up and a generally more upbeat feeling for the next 12 months from business leaders.
My congratulations go to this year's overall winner Soil Machine Dynamics in particular as well as the other 49 businesses for the outstanding efforts they have made over the past year to secure their place on this prestigious list.
A diverse range of businesses appear in the Fastest 50 and I believe it is this broad business base that will set this economic recovery apart from times past.
While previously the region has been slow to recover from economic downturns, I am optimistic that we are better prepared for this upturn allowing us to emerge stronger than ever before.
In direct response to the recession One North East has been working alongside our public and private sector partners and The Journal on the 'Real Help for Businesses Now' campaign, pointing businesses to the wealth of public sector support available to firms.
And we continue to give our backing to address the cash flow, credit and investment needs of small to medium-sized businesses which is so vital to breed confidence and stimulate new growth.
We have recently unveiled a £125m 'superfund' which will be available for businesses early next year. The JEREMIE fund aims to support 850 viable, small and medium-sized firms that will form the backbone of the future economy in this region.
There are many reasons for the region to be more confident as we prepare for the upturn.
The Government has already designated the North East as the UK's first low carbon economic area with the region emerging as the leading European location for electric vehicle development.
We are working closely with Nissan and a host of public and private sector partners to ensure we seize the best possible benefits from the low carbon economy, positioning us as the region to do business with.
The companies on the Fastest 50 list show the breadth and depth of business talent in our region providing inspiration to those looking to create and grow a successful company in the North East.
I wish all of the 50 firms the very best of success for the future.
By Margaret Fay, Chairman, One North East
