Economic forecast bright for Rugby

THE ECONOMIC forecast for Rugby looks bright.

A new report suggests trading conditions in town are improving. The overall number of companies operating in the town rose last year and there was a drop in the number of company closures, according to the latest Duport Business Confidence Report.

The report also indicates a rise in the number of new companies opening for business - 218 between January and December.

And the report also suggested businesses in the town had weathered the recession better than many other areas of the country, and the local economy looked to be stabilising.

Duport spokesman Peter Valaitis said: “Rugby, like so much of the UK, suffered at the height of the recession.

“However, it’s good to see that new companies continue to be set up, proving entrepreneurial spirit is alive and well in the area.”

Rugby MP Mark Pawsey said the news was encouraging.

He added: “These are tough economic times, but I do get a sense of a little bit of confidence within the business community.

"I've been talking to businesspeople who have projects for expansion or development which they've held on ice, and said to me that now was as good a time as any to do it.

"We've got some great success stories in Rugby. Alstom are employing people, we've got a company called Automotive Installations who recently invoiced a million pounds worth of invoices in a month for the first time ever.

“There are some good success stories out there. It shows that we're heading in the right direction.”

Coun Heather Timms, Rugby Borough Council’s economy spokeswoman, said Rugby had not been hit as hard as many parts of the country, and the number of businesses which failed in the town, and unemployment rates, had always remained below national and regional averages.

She added: "It’s no surprise that, as we begin to see some signs of early recovery, once again Rugby is performing better than much of the rest of the country.

"I am not in any way complacent and I know that many local businesses and those they employ have suffered in these difficult economic times. The council will continue to do what it can to nurture that growth."

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