COMPANIES in Coventry and Warwickshire can expect 2024 to be another year where they have to ‘dig in’.
Steve Harcourt, director of Prime Accountants Group, was speaking after being sworn in as president of the Coventry and Warwickshire Chamber of Commerce for the next two years, replacing Tom Mongan in the role.
Steve said while 2024 was going to be far from easy, he believed the region was well-placed to overcome another tough year economically with potential for stronger growth in 2025.
He said: “We are still not back to where we want to be as an economy and, of course, other global factors have had a huge effect on our region.
“I believe 2024 is going to be another year where we have to dig in because, while inflation is falling, we are still going to be impacted by higher interest rates than businesses have been used to over the past few years.
“Coventry and Warwickshire is very well placed to overcome the hurdles and our businesses have shown over the past few years that despite uncertainty, we are very resilient.
“There was positive news in the Chancellor’s Autumn Statement on the investment zone coming to the region and, prior to that, we heard that the West Midlands was receiving more than £10 million in Local Skills Improvement Fund money.
“So, while I can see 2024 being a challenge, it can also be the year to lay the groundwork for growth in the years ahead.”