Brighton and Hove’s ‘tiger economy’ set for growth (From The Argus)

Brighton and Hove’s ‘tiger economy’ set for growth

5:38pm Tuesday 24th January 2012 in Business News By John Keenan, business editor

The private sector in Brighton and Hove has been dubbed one of the most dynamic in the country. A new report reveals that firms in the city are well placed to pull the area through the economic down- turn. The Centre for Cities report states that the city is one of the top in the country for start-ups, job creation and skills. It showed that almost 45% of the population are highly skilled and the level of unemployment is slow com- pared to other cities.

The study is seen as an important "health check" on 64 of the nation’s major towns and cities. Business leaders hailed the news, saying that although the economic outlook was uncertain there are positive signs that innovative businesses can compensate for cuts to public sector budgets.

A spokesman for Centre for Cities said: “Brighton has important niche strengths which will see it through the stormy waters ahead.

“Its creative industries have a strong reputation and we expect it to be one of the country’s top performers over the next few years.”

Mark Froud, chief executive of Sussex Enterprise, the county’s chamber of commerce, said that businesses in the area this year can expect up to 1.5% growth, almost twice as fast as the national rate.

He said: “I expect confidence to return during the year. At the moment it is very tough and we all know that the retail sector particularly is having a hard time.

“But I go around the area talking to business people and the sentiment is positive. Business owners are talking about growth.

“This year will be one of uncertainty. The key issues holding businesses back remains the skills of those leaving school and those not in work; the slow speed of broadband in many parts of Sussex; and the level of unnecessary and pointless bureaucracy that stifles innovation and growth.

“So the three priorities for Sussex Enterprise in 2012 are to tackle these three problems.”

Julia Chanteray, president of the Brighton and Hove Chamber of Commerce, said: “Brighton and Hove is one of Britain’s tiger economies.

“The city has not been dragged down by recession. Our businesses are still growing, the Chamber is seeing an above-average increase in membership.

“Public sector job losses are not good news for anyone but this city is better placed than most to help those people move forward.”

Councillor Ian Davey, the cabinet member for transport, said: “New and young businesses are the lifeblood of our growing, thriving city and are often the answer for enterprising people who otherwise face unemployment.”