Date posted: 31st Oct 2023
A group of North East businesses have voted unanimously for a hold in interest rates.
The group highlighted factors that are currently impacting the economy, with clients reigning in spending due to uncertainties surrounding the impact of previous interest rate rises and soaring business costs.
There is still a lack of data present to be able to fully understand the impacts the rising rates will have on businesses and the economy.
Partner, Nicola Bellerby, discussed the impacts these rates may have on clients and said, “Clients are seeing the impact of rising interest rates on their bank statements and management accounts, and are anticipating an increase in costs”
We would like to thank those that took part, Katrina Lingwood, John Young, Paul Gibson, Martyn Pullin, David Coates and Tim Bailey.
And to Recognition PR for facilitating.
