A leading accountant says there are “positive signs” that the Wirral and Cheshire economy is moving in the right direction.
Phil Bates, Principal at Neston-based Phillip Bates & Co, said clients in a number of sectors were reporting greater levels of confidence including those in construction and leisure and retail.
Phil said: “Construction normally leads the country out of recession and there is a definite increase in the amount of building work, whether new build or extensions to properties.
“Consumers are spending again, albeit cautiously, which is so important for the local economy.
Building work feeds other related industries including interior design and soft furnishings.
“Linked to this activity, towns such as Neston, Heswall and West Kirby are seeing an increase in new retail and restaurant openings, while local tourism attractions and holiday cottages are also seeing a pick-up in business.
“Businesses have had a tough time over recent years and although we aren’t completely out of the woods yet, these are undoubtedly promising signs for our local economy.”
Phil added: “A number of our clients are now actively talking about growing their businesses again rather than consolidating.
“Some businesses were definitely holding off until they knew the result of the General Election, particularly as there had been a lot of talk about a hung parliament and the possibility of a second election later in the year.
“Although we were not expecting it, it is good for business that we have political certainty irrespective of which party had gained the overall majority.”
Phillip Bates & Co works with SME clients across Cheshire, Wirral, Merseyside and North Wales, providing them with a full range of accountancy and tax services. Its sister firm, Phillip Bates & Co Financial Services, provides clients with independent financial advice. They are one of the few firms in the area to have both a Chartered Accountant and Chartered Financial Advisor.