Chamber of Commerce chief Richard Wright has praised Sheffield companies for fighting hard to grow and create jobs despite difficult trading conditions.
Sheffield Chamber executive director Richard Wright was speaking in the wake of improved growth forecasts from the British Chambers of Commerce.
He said: “I know how many of our local businesses have not allowed the recession to drag them down and they are now seeing their rewards as the economy gains momentum.
“Increasingly our members are reporting positive news about the performances of their businesses and improved trading both here in the UK and internationally.”
Mr Wright’s comments came as the British Chambers of Commerce (BCC) raised its forecast for growth in GDP – a key economic indicator – from 2.7 per cent to 2.8 per cent for 2014 and from 2.4 per cent to 2.5 per cent in 2015.
BCC director general, John Longworth, said the organisation’s predictions were a testament to the drive and ambition of businesses across the UK, but it was not yet time to break out the Champagne.
“Major issues remain, such as the unacceptably high level of youth unemployment,” said Mr Longworth.
“We urge the Chancellor to use this month’s Budget wisely by incentivising businesses to hire young people so that the next generation of workers are not left behind.
“Crucially, Britain is simply not investing enough. While business investment is expected to grow, it will remain way below pre-crisis levels for some time.
“There is also more to do in securing access to finance for growing firms.”