Prosperity and Political Drama Set to Continue in 2016

Phil Smith, Managing Director of Business West, looks back on the past 12 months and considers what 2016 holds for South West businesses.

He said:

"It’s been a lively twelve months for the South West no matter which way you look at it. Our economy is on the up, we had a political shake up in May, and we’ve had a variety of cultural events that have put our region firmly on the world map.

"The year 2015 will live long in the memory, with the standout event an election that sent shock waves across the country. Opinion pollsters were left suitably embarrassed as the predicted hung parliament disappeared and a Conservative majority unfolded.  Reminiscent of a game of musical chairs, our region mirrored the national picture with Conservative gains and Lib Dem losses.

"In 2016 year we can expect the headlines to be hogged by the EU. With a referendum getting closer and David Cameron expected to strike a reformed deal with EU leaders in February, the debate is set to go up a gear. Our survey of almost 1000 firms in June showed how significant this issue is for firms, from the smallest to the largest in our region, and Business West has a key role to play in explaining the pros and cons so that business people go into the referendum with their eyes open.

"Elsewhere in more local politics we can also expect progress on devolution deals, and in Bristol we have a mayoral election and a local housing debate that is gaining traction by the day.

"Looking past the politics, we’ve seen a series of economic boosts over the past twelve months. South West unemployment fell to the lowest level in the country, and our exports bucked the national trend.

"Culturally, the Bristol Green Capital year put us on the world map as a pioneer in greener living and working. The Rugby World Cup in Exeter and Gloucester raised our international profile even further, and Banksy’s highly acclaimed Dismaland in Weston-super-Mare exceeded all expectations and contributed enormously to raising our profile across the globe.

"There is no doubt that all of these events have boosted our regional brand, catapulting us onto the world stage as an exciting and innovative region, and will spur tourism and investment for years to come.

"But we won’t rest on our laurels. The success of the last twelve months provides the perfect springboard for what is set to be an eventful 2016."