The Wokingham Paper

Thames Valley businesses fear regional economic gap is widening

BUSINESSES in the Thames Valley are worried the regional economic gap is widening.

According to BDO, 78% of mid-sized businesses in the area fear the coronavirus pandemic will widen the UK’s north-south economic gap.

And six out of 10 companies in the region anticipate that they will need financial support to survive the virus’ second wave.

BDO, a global business advisory firm, released these statistics after carrying out a recent survey of 500 medium-sized business leaders.

“UK companies have taken on record levels of debt and repayment may present a challenge for those whose revenue hasn’t returned to pre-crisis levels,” said David Brookes, managing partner at BDO in Thames Valley.

“Nearly 60% of businesses in the region believe they will need additional financial support to be able to survive a second wave of Covid-19 this winter.

“The Government should place a firm focus on supporting the high-potential businesses that form the region’s economic engine – these businesses will help to drive recovery through innovation and growth.”

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