Future looking bright for business in city

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Sheffield companies that have fought hard to grow and create jobs, despite difficult trading conditions, have been praised by a city business leader.

Richard Wright, executive director of Sheffield Chamber of Commerce, praised the efforts made by these organisations, which he said had made a valuable contribution towards improving the local economy.

He said: “I know how many of our local businesses have not allowed the recession to drag them down and are now seeing their rewards as the economy gains momentum.

“Members are reporting positive news about the performances of their businesses and improved trading both in the UK and internationally.”

Mr Wright’s comments came as the British Chambers of Commerce today raised its GDP growth forecast from 2.7 per cent to 2.8 in 2014 and 2.4 per cent to 2.5 in 2015.

John Longworth, Director General of the BCC, said the predictions were a testament UK businesses drive.

He said: “Our new forecast shows the service sector is performing particularly well, and is likely to be a key driver of growth. And the manufacturing sector, although small, is pulling its weight too, and will play an important role in sustaining our recovery.”