The highs and lows for Cumbrian businesses in 2023

She says: "Well it’s been a strange year hasn’t it?

In my job people often ask me how it’s going for businesses in the county. This year that’s been far from straightforward to answer, with such a variety of experiences.

For most businesses, some combination of energy costs, wider inflation, interest rates and, not least staffing, continue to be a significant issue. It’s often forgotten that lower inflation just means prices are going up less quickly – not that they’ve come down!

Within the business community, there are many who are really struggling. That does mean sadly that we’ve lost businesses, of varying sizes and across the range of sectors from retail to hospitality to engineering. The latter includes James Fisher Nuclear and Mitchell Dryers to name but two. And others remain at risk. Some just can’t afford to keep going. Sometimes there’s a decision that the fight of trying to juggle it all and find and keep staff just isn’t worth the stress anymore. Particularly for smaller businesses there’s the lure of plentiful, less stressful and often better paid jobs working for someone else.

Most businesses in the county have a continuing challenge with recruitment and retention, even those who’re among what could be called “the winners”. This is a really serious challenge and one that between us all we really have to crack. Businesses and other stakeholders are working hard on it together but there’s a long way to go. There just aren’t enough people in the county, and the situation’s not forecast to get any better unless we can get many more moving here.

But among all the challenges we’ve highs too. There are too many to mention them all here so I’ll apologise now and just pick out a selection!

Among those must be our four King’s Award for Enterprise winners – Clark Door for Innovation, First Milk for Sustainable Development and Fruugo and OEE Container Technology both for International Trade. All truly flying the flag for Cumbrian Enterprise.

OEE were also North West Global Player winner in the British Chambers of Commerce Awards, along with McMenon Engineering Services for Game Changer and Omega Proteins for Planet Saver.

It was great to see Cumbria highlighted on a national stage with McMenon featuring in national Nat West adverts and at a Downing Street reception as a Local Skills Champion.

And earlier in the year was the announcement on AUKUS, with BAE Systems a key player in this tri-national submarine development. That does bring with it further staffing challenges.

But another high must be the way that Cumbrian businesses are genuinely working together, and with wider stakeholders, to address those, chaired by Darren Cavan of Oxley Developments – another great ambassador business for Cumbria.

The year is one more testament to the resilience, ingenuity and partnership working/support of Cumbrian business. Long may it continue."