Euro crisis remains low priority for firms in Hereford & Worcester

PROBLEMS in the Eurozone remain a low priority for firms in Herefordshire and Worcestershire, according to a new survey.

The vast majority of firms in the area remain more concerned about low levels of business confidence.

According to the latest Quarterly Economic Survey by the Herefordshire & Worcestershire Chamber of Commerce only around 20% of firms believe the crisis will have a direct impact on their business. More than 70% of respondents said the situation was having no impact on their firms.

Mike Ashton, chief executive of the chamber, said: “Exporters are among those most affected as demand from European countries decreases.

“Members regard shortage of business confidence as well as media talk resulting in uncertainty and  lack of  consumer confidence  as the main causes for the negative impact on business.

“It is in this context the Herefordshire & Worcestershire Chamber of Commerce consents with the Chancellor of the Exchequer’s comment that a stable euro is in Britain’s interest. A stable euro is the foundation needed to allow companies affected by the euro-crisis to conduct business thereby promoting growth and development in the region.”